In a December 2021 poll, 87% of Canadians surveyed reported that the rising price of everyday goods was their top source of anxiety1. The last period that caused this level of financial concern for Canadians was the 1990s2, when inflation reached a high of 5.5%. Today, it sits at about 4.8%, primarily due to transportation and supply chain issues and a sharp rise in energy prices. The associated increase in cost is passed along to Canadian consumers, who are concerned about how to pay for it.
When Dora died on August 1, 2018, most of her assets passed by Will to her adult children and were therefore subject to probate. $250,000 was in GICs and a fairly rapid transfer of this money to her heirs was expected. But that was not the case. They had to wait until March 2020 for it. That's right, almost two years.
The RRSP deadline for 2021 deposits is fast approaching on March 1st. Some of the basics of the benefits of RRSPs are worth repeating, especially for Millennials and other younger, or beginner investors.
The goal of building investment assets is to someday (retire) be able to sustain your desired lifestyle without having to work to earn an income. This is often referred to as passive income where the assets generate the monthly income needed to maintain your standard of living.
A year ago, Faye and David decided to get smart around saving money. "We both love the idea of retirement," says Faye. "But we could never seem to close the gap between what we earn and what it costs to run our life to increase our savings." As the couple approached their fifties, they decided to find innovative ways to save. "One of the ways we could do that was to spend less on the things we needed," says David. "We love a challenge, so we decided that we wouldn't make any major purchases for a year without comparison shopping or a money-saving coupon."
Ross and Janis lived a typical Canadian life. They were married, had two children, Melissa and Kyle, and both worked outside the home.
An avid golfer, Ross also went on fishing trips with friends and helped coach his son's hockey team. Janis played the piano, enjoyed bike rides with her friends, and was treasurer for her daughter's soccer team. They played in a mixed curling league.
Thank you so much for the very generous donation to the "Teddy Bears of Hope Foundation".
I am very excited and looking forward to all the experiences I will share as I fufill my role as Miss Teen Ontario Canada 2014 and ambassador for the "Teddy Bears of Hope Foundation". The kindness and support of wonderful folks like you is very much appreciated, thank you again.
Mutual funds and segregated funds provided by the fund companies are offered through Worldsource Financial Management Inc., sponsoring mutual fund dealer. All other products and related services are offered through Brian Fitzsimons/Fitzsimons Financial.