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Posts from the ‘Life Stages’ Category

12
Dec

Start saving early

by Caroline Hanna

You’re never too young to make smart financial decisions. Whether you entered your 20s with a solid savings portfolio funded by your parents, saved up some of your own money, or spent it all on education, here are four tips on how to get ahead financially.

01 Start now

A lot of 20-somethings feel they’ve missed the savings boat. You haven’t. You may have missed out on high interest rates, but the principles of savings apply, even when rates are low.

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24
Oct

Tackling the challenges of benefits provision for employees over age 65

by Kim Siddall

Increasing longevity, better health and the elimination of mandatory retirement means many Canadians are delaying their retirement past age 65, presenting employers with both advantages and challenges for managing benefits for this unexpected segment of their workforce.

Statistics Canada’s last census indicated that one in four Canadian seniors were still working in some capacity past the traditional age of retirement, whether driven by choice or economic necessity. This finding was echoed by Sun Life’s last Unretirement index last year, which pointed to a growing number of Canadians who fully expect to still be working full time at age 66. In fact, 2015 marked the first year in the seven years of the study that more respondents expected to be working full time at 66 than those who expected to be fully retired. Read more »

24
Oct

Boomer + Sandwich Generation + Club Sandwich + Boomerang = Financial Instability

The Sandwich Generation was a term coined by Dorothy Miller in 1981 to describe adult children who were “sandwiched” between their aging parents and their own maturing children.  There is even a term for those of us who are in our 50’s or 60’s with elderly parents, adult children and grandchildren – the Club Sandwich.   More recently, the Boomerang Generation (the estimated 29% of adults ranging in ages 25 to 34, who live with their parents), are adding to the financial pressures as Boomers head into retirement. It is estimated that by 2026, 1 in 5 Canadians will be older than 65. This means fewer adults to both fund and provide for elder care.  Today, it is likely that the average married couple will have more living parents than they do children.

What are the challenges? Read more »

11
Jan

Tying the Knot

Marriage is the coming together of two separate lives, but it’s also the coming together of two separate financial histories and situations.

And while your financial past will continue to be a part of your life, you’ll also be contending with a lifetime of new financial experiences and decisions with another person. One key to success is to be ready to handle everything that comes up. And having the financial resources to deal with the unexpected will be as important as developing the communication skills needed to talk about financial matters. Read more »