In this TGIF Two Girls Investing Friday episode, Jess and Colleen discuss building wealth without jargon by focusing on diversification and how home equity lines of credit (HELOCs) fit into mortgage and debt strategy. They explain why a diversified portfolio helps manage risk, using a “stiletto vs. snowshoe” analogy, and Jess shares her own mix: mostly stock ETFs across the US, Canada, and global markets, plus some high-dividend ETFs, a small allocation to bonds and gold (via a gold ETF), and an emergency fund in a high-interest savings account, all held on Wealthsimple due to low fees. They define key terms like stocks, ETFs, bonds, and bond maturity dates, including all-in-one portfolio ETFs. They also cover HELOCs as secured credit with lower rates, best used for debt consolidation or value-adding renovations rather than depreciating purchases ...