Canadians are plagued by the thought of insufficient income in retirement, according to a recent Russell Financial Health Index. The study, which gauges the financial health of Canadian investors around retirement, shows Canadians are particularly concerned about the financial impact of a medical issue or the death of a spouse.

The index rose to 47.62, the highest level in over a year. As baby boomers head into their retirement years, they’re starting to worry about issues such as their health and their spouse’s health. Changes to benefit plans and government programs are having a huge impact on the ability to address such expenses as medical costs and its not surprising the Russell Financial Health Index is reflecting their concerns.

ETF fees are twofold. First there is the “Expense Ratio” or “Management Fee”. The fees you pay to the manager to do the analysis on the markets and choose a portfolio that will closely align with the exchange it intends to reflect. The manager will make money by keeping the expenses lower than the Expense Ratio.

The Hidden Fees are the variable costs that are associated with the trading and margin the fund uses to make all the trades and purchase the contracts it needs to. These, of course, are not disclosed but are simply deducted from the returns of the fund making them practically impossible to calculate.

ETFs are often more exotic than mutual funds and the variable costs will be significant. An example of which is an ETF that tracks a basket of 20 commodities. Trading costs will be huge since the fund won’t be taking delivery of the commodities, they must continually purchase and rollover commodity contracts in 20 different commodities.

You could actually experience a drop in value of your ETF even though the market it is designed to track remains flat.

The strength of Canadian banks has become the stuff of international legend, surviving the 2008 global financial crisis unscathed. Strong regulation saved the day, or did it?

According to a study released by the Canadian Centre for Policy Alternatives (CCPA), Canadian banks secretly received $114 billion in financial aid between October 2008 and July 2010. The aid was provided by the Bank of Canada, Canada Mortgage and Housing Corporation (CMHC), and even the U.S. Federal Reserve.

The study data was provided by CMHC, the office of the Superintendent of Financial Institutions and the Bank of Canada, as well as quarterly reports of the banks themselves.

Canadian banks reported $27 billion in total profits collectively, while their CEOs, among the highest paid Canadians, demonstrated the audacity to receive average raises of 19%.

The extraordinary amount of support given to the banks was kept secret, and CCPA senior economist, David Macdonald says, “The government says it was offering liquidity support but it looks like a bailout to me.” And he adds, “Whatever you call it, the Canadian government aid for the country’s biggest banks was far more indispensible than the official line would suggest.”

“At some point during the crisis, three of Canada’s banks: CIBC, BMO and Scotiabank were completely under water, with government support exceeding the market value of the company,” says Macdonald.