Originally from our sister publication, Advisor.ca. Blame it on an era of stagnant real wages: the majority of Canadians say they have no savings set aside “for a rainy day,” according to the October RBC Canadian Consumer Outlook Index. What’s worse, 30% said they are dipping into their existing savings to pay for everyday expenses […]
The average Canadian expects to retire debt-free at age 63, according to a new Harris/Decima poll commissioned by CIBC. However, the poll also shows that older Canadians are less optimistic about reaching their savings goals and expect to carry at least some debt into retirement. Of the 1,116 Canadians surveyed, only 22% believe they will […]
Canadian employees are too in debt to think about retirement planning. That’s the implication from a recent report by Morneau Shepell, which shows more workers are accessing their employee assistance programs (EAPs) for debt and credit issues, but fewer are seeking help with investment planning. According to the report, 63.2% of the time that people […]
Two seemingly contradictory reports evaluating national debt levels tell the same stark truths about the rising severity of the financial straits facing many Canadians, analysts said Wednesday. A poll released by the Royal Bank of Canada exposes the complacent attitudes that many Canadians have adopted as a result of months of rock-bottom borrowing rates, they […]
Originally from our sister publication, Advisor.ca. There’s yet more evidence that Canadians are clueless about when they might realistically be free of debt. And the current low interest rate environment is to blame for that, according to consumer debt survey by Manulife Bank of Canada. Survey results indicate more than one in three Canadian homeowners […]
For many Canadians, the ‘golden years’ could be a distant dream. According to a survey by the Canadian Payroll Association (CPA), 40% of Canadians said they will have to retire later than they previously planned. The primary reason: They are not saving enough. The survey found the majority of Canadian workers are living paycheque to […]
Watch this video The past decade has brought enormous changes in the global investment landscape, says Scott Berg, portfolio manager, global large-cap strategy with T. Rowe Price. He cites the tech bubble, Sept.11, housing booms, the global financial crisis and Japan’s earthquake as just a few of the events that have impacted the investment environment. […]
A new report from the Washington, D.C.-based Employee Benefit Research Institute (EBRI) suggests baby boomer and generation X households who have DB pension plans are more likely to be able to fund basic needs and uninsured health costs. According to the non-partisan organization’s report, these households are 12% less likely to be “at risk” of […]
Originally from our sister publication, Advisor.ca. Canadians fancy themselves as being debt-free in the next decade and are aggressively paying down debt, but a new study reveals they may be unrealistic about the age by which they expect to have paid their financial dues. A recent CIBC poll notes that on average, Canadians holding some form […]
The average Canadian is eager to retire by the age of 61, but nearly half (48%) do not feel they are financially prepared for a satisfactory retirement, according to an Ipsos Reid survey conducted for HomEquity Bank. The survey polled 1,054 Canadians ages 45 to 60. Debt is a major factor affecting the financial stability […]