Is Your Financial Situation Shameful?

by Eloise Duncan | Nov 7, 2017 | Financial Health, Financial Resilience, Financial Wellness

Shame and embarrassment often impede Canadians from acknowledging their personal financial struggles, a new study – commissioned by financial services group Manulife – on health and wealth finds. “The stigma, shame and embarrassment of being financially...

Few Canadians are destined to hit their retirement income ‘sweet spot’

by Eloise Duncan | Nov 7, 2017 | Financial Health, Financial Resilience, Financial Wellness

Just as astronomical telescopes allow us to glimpse the distant past, a “demographic telescope” allows us to peek into the distant future. What Canadian demographics are telling us is that only a small fraction of Canadians will retire with an adequate...

The lessons from Canada’s attempts to curb its house-price boom – Written by the Economist

by Eloise Duncan | Jun 23, 2017 | Financial Health, Financial Wellness

IN MATTERS of finance, if not climate, Canada is usually temperate. It was barely moved by the economic storms that blew the roof off America and Europe in 2008-09. Its banks were steady, it was argued, in part because they were shielded from the ferocious competition...

A 10% hike to mortgage payments would sink almost 3 quarters of homeowners, Manulife says

by Eloise Duncan | Jun 9, 2017 | Financial Health, Financial Resilience, Financial Wellness

Almost three quarters of Canadian homeowners would have difficulty paying their mortgage every month if their payments increased by as little as 10 per cent, a new survey from Manulife Bank suggests. The bank polled 2,098 homeowners — between the ages of 20 to 69 with...

Income volatility impacts many Canadians and their sense of financial health

by Eloise Duncan | Jun 9, 2017 | Financial Health, Financial Resilience, Financial Wellness

About 3.3 million Canadians say they are dealing with income volatility to the extent their monthly income can fluctuate by 25 per cent or more, according to a study published Wednesday. In what appears to be to a first in Canada, Toronto-Dominion Bank commissioned a...

High debt levels with Canadians is causing stress

by Eloise Duncan | Jun 8, 2017 | Financial Health, Financial Wellness

High levels of household debt and red-hot housing markets in Toronto and Vancouver pose the biggest threats to the stability of the country’s financial system, the Bank of Canada said Thursday. The housing price and the household debt problems are linked, as Canadians...