The research tells us that a majority of workers, at all income levels, lack the basic financial knowledge and confidence needed to deal with complex financial issues and make sound financial decisions.
Canadians are eager to be debt-free, but they’re missing easy-to-implement opportunities to pay down their debts faster, says Manulife Bank. According to the bank’s recent consumer debt survey, 61% of Canadians have struggled to reduce their debts over the past year.
Women and men may agree on how to define financial success, but not necessarily on how to get there, according to the latest TD Waterhouse Women Investor Poll.
Canadians award themselves a B on their level of financial literacy, but say they need to learn a great deal more, according to research from Investors Group.
Plan sponsors need to take a holistic view to their members’ retirement savings and understand that at different stages in employees’ lives, they face different challenges, says Robin Pond, investment consultant with Buck Consultants.
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 […]