washington — About one-quarter of U.S. adults age 50 and older who are not yet retired say they expect to never retire, and 70% are concerned about prices rising faster than their income, an AARP survey finds. About 1 in 4 have no retirement savings, according to research released Wednesday by the organization that shows … Read more
The federal government’s budget proposal to increase the inclusion rate for the capital gains tax for people whose profits go past a certain threshold has drawn mixed reactions from experts, entrepreneurs and taxpayers. One asset affected by these changes is real estate, including cottages and investment homes. The change proposed in the Trudeau government’s new … Read more
Nischa Shah is an accountant, investment banker and “money expert” who has worked in finance for over 13 years. In a video posted on YouTube, the UK-based finance expert told her one million followers that, throughout her career, she has “seen first-hand the middle-class habits that keep people in the rat race.” The class divide … Read more
Republicans in Congress have proposed a plan to shore up the Social Security Trust Fund, mainly by slowly increasing the retirement age from 67 to 69. Despite an immediate objection from President Joe Biden and top Democrats, raising the retirement age is crucial to the long-term health of Social Security. As recently as 2020 Social … Read more
Finance Minister Nirmala Sitharaman said Tuesday that Atal Pension Yojana or APY has been designed as an affordable scheme with a guaranteed pension amount. In a post on X, Sitharaman noted that the scheme has given 9.1% since inception, which is quite competitive even compared with other saving schemes. “Any upside above assured pension is … Read more
After decades of work, you may be ready to put your credit profile to rest. Who needs credit after they retire? You do—you need credit even after you retire. There are multiple reasons, and we will discuss them right here. Why Credit is Important, Ever For starters, let us go back a couple of years … Read more
The age of a retiree could be correlated with how much they spend — and nearly half of retirees say that they retired earlier than expected. A new piece from Go Banking Rates with statistics from the Bureau of Labor Statistics (BLS) shows a difference in the expenses of younger and older retirees and reveals … Read more
Michelle Jeraline says she’s so stressed out by the pressure to sell customers products at TD Bank, it’s affected her health. The TD employee says she’s usually not acting in the best interest of her clients — she’s trying to sell them products that will help her meet sales targets and keep her from being … Read more
The latest changes to the CPF scheme announced in Budget 2024 raised concerns about the potential impact on retirement planning – specifically, the closure of the CPF Special Account. How will these changes affect your nest egg? We speak to Alvin Chow, CEO of financial education platform Dr Wealth. Read original article here Denial of … Read more
Renters are more likely to report a lower quality of life than homeowners, especially in Vancouver and Toronto, according to survey results over the last few years from Statistics Canada. In 2021 and 2022, renters were over 15 percentage points more likely to report difficulty meeting financial needs and over 11 percentage points less likely to report high overall life … Read more
