There has been a drastic change in retirement income planning in Canada in the past decade. As per the statistics Canada, the people of 65 years and above now constitute over 19 percent of the population, and that is likely to continue to increase as more years and later retirement alter the financial requirements. Meanwhile, … Read more
The financial planning of Canadians with disabilities needs a new perspective, a balance between income security, long-term care needs, and governmental support. Statistics Canada indicated that over 6.2 million Canadians aged 15 years and above with one disability or more disabilities live, or almost one out of every five adult Canadians. With the growing life … Read more
Financial planning forms a very important part of personal financing, given that it does not only provide you with a comfortable present but also a secure future. It is overwhelming in Canada, where there are different options for savings plans, investment opportunities, tax considerations, and retirement planning. The content herein puts forward an overview of … Read more
With the coming of the fall season, a large number of people living in Canada are reconsidering what truly matters to them in their work and personal lives. The high cost of living, the changing nature of work, and the increased focus on well-being have together changed the way employees perceive compensation. Currently, a paycheque … Read more
It’s a long-term basis on which the business can rely when dealing with unexpected circumstances. The company has a process in place to mitigate the financial impact when it loses a key executive or employee. This lessens the burden on reserves and safeguards working capital. Therefore, the firm can fight back when things turn bad rather than collapsing in … Read more
As a Non-Resident Indian (NRI) living abroad, handling money is kind of like juggling priorities between two worlds. Amidst skyrocketing costs of living, fluctuating exchange rates and ever-evolving tax laws, clarity around finances is more important than ever. Average household spending – at more than CAD 76,000 in 2023 – increased at one of the fastest rates seen … Read more
In an uncertain financial climate, Canadian investors are turning (back) to stability. The demand for secure, predictable returns has spurred the revival of guaranteed investment products across the nation. According to a number of financial institutions, guaranteed interest products continue to increase as investors look for options that provide balance through the protection and potential … Read more
It’s important to save and invest your money wisely in order to achieve the stability of long-term financial and housing situations, with the increasing cost of living and inflation affecting everyone. National savings rate now at 5.1% in early 2024: Stats Can. Some surprising new data from the folks over at Statistics Canada this week … Read more
It can seem like a maze, all that retirement planning in Canada. Take the wrong turn and you’re paying more tax than you need to, saving less than you thought, or not receiving benefits that you could have received all along. Two of the most widely recognized tools available to Canadians for use in their … Read more
There’s no handbook for mothering, but there are certain questions that every mother seems to ask at some juncture. Among the most frequently asked is: “What allowance should I give my kid?” It sounds simple, but allowance is not just giving out money. It gets at teaching value, setting expectations, and creating financial habits that … Read more