All clients want a worry-free retirement, but some could find themselves facing financial challenges in their golden years. Read: How much retirement saving is enough? That’s because 25% of Canadian retirees are living with debt, finds a national survey from Sun Life Financial. In fact, some retirees still use credit as they did before retirement, […]
Canadians are dipping into retirement savings to fund short-term expenses, BMO Financial Group finds in its eighth annual RRSP study. According to the study, the first part of which was released earlier this month, 40% of Canadians have made a withdrawal from their RRSPs. Those who have done so have withdrawn an average of $20,952—an […]
How Canadians are saving for retirement may be an issue
47% of those planning to retire solo are worried they'll outlive their retirement savings. Here are some tips.
Canada needs to reduce barriers to employing older workers as the aging population grows, a report from PwC says. Canada ranked 16 out of 34 OECD countries in PwC’s Golden Age Index, a weighted average of seven measures for workers aged 55-69, including employment rate, training and earnings. Canadians over 65 will make up nearly […]
It’s not uncommon for seniors to help their children and grandchildren with paying down debt, making down payments, and covering the cost of education and childcare, a survey from HomEquity Bank says. The survey was conducted in late October at the Toronto Zoomer Show. Roughly one-fifth of the 682 respondents said they’ve provided one-time financial […]
Though most clients need help saving for retirement, those aged 34 to 40 are particularly vulnerable to life getting in the way of those plans, finds a TD survey. In fact, 74% of respondents say they’d like to save more, but everyday financial obligations take precedence. Read: Canadians aren’t making saving a priority: survey Common […]
Canadian investors know they're not saving enough
And how you can help them succeed
Six recommendations to help firms, advisors and clients