In the News
Rising inflation is forcing some advisors to have difficult conversations with clients about their spending habits and whether they should make adjustments to their financial plans. The inflation and interest-rate landscapes are “shifting dramatically,” wrote BMO Capital Markets economists in a Nov. 19 report, adding they believe rising costs could be “more persistent than most initially thought” and interest rate hikes could come sooner and faster than forecast.
Advisors say withdrawing from an RRSP early is not something clients should panic about, but they should do this cautiously with other measures in place. As some Canadians looked to make ends meet during the pandemic, accessing extra funds may have meant tapping into savings – and for some, withdrawing from their registered retirement savings plans (RRSPs) earlier than expected was the solution.
It’s always hard to say ‘no’ to your kids, from when they’re little and want one more bedtime story to when they’re adults looking for help to pay the rent, buy a car or purchase their first home. With less job stability, the rising cost of living and skyrocketing rent and housing prices, it’s no wonder so many millennials and Gen Z adults are turning to the ‘bank of mom and dad’ for financial support.
If your paycheque needs a little oomph, now may be the time to look for a new gig. Changing jobs is always a chance to ratchet up your compensation, but the current labour market may be a historical opportunity to net a big pay bump.
When it comes to deciding whether or not private school is the right choice for your child, parents may be overwhelmed by the financial considerations. Financial experts say that the smart way to evaluate this choice is to look at it from a holistic and long-term perspective.
For almost three decades, many investors and financial professionals have looked to the “4-per-cent rule” as a rough guide for how much money they would need to withdraw from their portfolios annually to retire comfortably.
A recent Statistics Canada survey of almost 17,000 business owners found that about 3 per cent have plans to transfer or sell their business within the next year, which translates into hundreds of deals across the country based on the sample size alone.
There are 564,000 people in Canada with dementia, the broader category of cognitive impairment that includes Alzheimer’s disease, according to the Alzheimer Society of Canada. Every year, 78,600 new cases are diagnosed, according to a national dementia strategy released by Health Canada in 2019.
A guide for seniors trying cannabis for the first time, a fascinating look at the menopausal brain and a Footloose-inspired protest from a group of Newfoundland seniors
It’s been nearly three years since Ottawa legalized the recreational use of cannabis and one of the big surprises has been just how many seniors are utilizing pot products for health reasons — or just plain fun.
MoneySense partners share their answers to questions that we hope will inspire and inform Canadians about their personal finances.