Category Archives: Personal Finance

Canadian Retirement Myths & Realities

There are some surprises in store for Canadian Boomers approaching retirement. Already-retired Boomers (aged 50+) identified three retirement realities that contradict the expectations of their pre-retiree counterparts: Retirees don’t miss their pay cheques from work as much as pre-retirees expect to, by a margin of almost two-to-one (26 per cent compared to 49 per cent). […]

Debt Freedom? Canadians expect to be debt free by age 56

A recent poll by CIBC finds that on average, Canadians expect to be debt free by the time they are 56 years old although some Canadians see themselves carrying debt well into their sixties. In addition, nearly a third (29 per cent) say they have no debt while 13 per cent say they will never […]

Interest Rate Rise Would Impact 64 Per Cent of Canadian Households

According to BMO’s Annual Debt Report released today, almost two-thirds of Canadians with debt (64 per cent) would be stressed in the event interest rates rose two percentage points, with one-quarter (25 per cent) saying they would be very stressed. Meanwhile, there is optimism among Canadians regarding the pace at which they can pay their […]

Bad Habits and an Unwillingness to Make Sacrifices Preventing Many Canadians from Improving their Financial Standing

According to a new study released by BMO Bank of Montreal, while the majority of Canadians would like to improve their financial standing, many admit that bad spending and savings habits and an unwillingness to make sacrifices are keeping them from doing so. The poll, conducted by Pollara, revealed: The vast majority of Canadians (88 […]