…started saving for retirement of any age group. The study, published as part of the OSC’s activities for Financial Literacy Month, covered several topics, including: Retirement preparedness Younger Canadians are…
Here’s what I found on "Saving Money"
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Calculate your RRSP savings
Your retirement income can come from a variety of different sources, including your Registered Retirement Savings Plan (RRSP). Knowing how much income you can expect to have from your RRSP…
How overconfidence bias may affect your financial decisions
…out, even though they have exceeded that limit many times in the past. Saving for retirement – People who feel healthy and energetic today can be overconfident about how they…
Understanding the tax deductions on your pay stub
…to your cheque or to a direct deposit statement. It will show the difference between the amount of money you earn, and the amount of money you actually take home….
RRIF fees
…of money in your RRIF. How you invest your money. The level of management you want. Caution Fees reduce what you make on your investments. Fees vary depending on the…
Investing and the COVID-19 Experience
…stopped contributing to a savings goal Nearly half (45%) of Canadian investors who were putting money towards a financial or personal goal stopped contributing toward their goal(s) during COVID-19. This…
How AI is being used in finance
…on your smartphone, you might receive AI-generated notifications about trends in your spending habits. Many Canadians are adopting AI tools to create budgets or plan their saving strategies. The OSC…
Segregated funds explained
…fund. Unlike mutual funds, segregated funds provide a guarantee to protect part of the money you invest (75% to 100%). Even if the underlying fund loses money, you are guaranteed…
Taking caution: Financial Consumers and the Cryptoasset Sector
…purchase crypto assets. Of those who used a credit card or otherwise borrowed money, more than 2 in 3 have paid back the money they borrowed in full. Cryptoasset buyers…
3 reasons not to borrow
…from other important needs When you borrow money, you have to pay interest. That’s money you could put toward savings or spend on other things. 3. It can damage your credit…