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In an Aging Canada, Women Need to Save More than Men – even if they make less

Wednesday Jan 1st, 2020

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Canadians aged 65 and older outnumbered children under 14 for the first time in census history, Statistics Canada revealed today. And the majority of seniors are women. Among those aged 85 to 99, there were just 54 men for every 100 women in 2016, data show. Those numbers have big implications for how women should handle their personal finances. While Canadians of any gender are facing the prospect of living longer after their working years, for women the post-retirement... [read more]

Preparing for a Rainy Day

Monday Jul 10th, 2017

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  Financial planning experts recommend having an emergency fund in case something unexpected like a layoff or injury interrupts your paycheck. Your safety net should cover at least six months’ worth of living expenses. Here’s how to calculate what you need to save: · Gather your financial records for the past 12 months. Include bank and credit card statements, ATM receipts, and canceled checks. · Create a 12-month grid. Down the left-hand side... [read more]

Avoid Mistakes With Retirement Savings

Friday Jun 2nd, 2017

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Make one or two mistakes in handling your retirement money, and you could be paying a stiff penalty later in your life. The stock market goes up and down, but you’ll survive if you stay clear of these common mistakes: Obsessing about market losses. Focus instead on long-term needs. Catastrophic events and long-term health care needs cause as much damage when you’re caught unaware as does a shaky stock market. Will your nest egg be able to handle long-term care? Forgetting... [read more]

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