As the population ages, many Canadians expect that providing financial support to their elderly parents will have a major impact on their personal finances, a recent survey commissioned by FP Canada™ and Chartwell Retirement Residences reveals.
The steep costs associated with college and university are taking a growing toll on the finances of both students and their parents. The Student Debt Survey reveals that eight-in-10 Canadians with children under 18 say they intend to assist their children with post-secondary costs, and nearly half expect that this will cause them to postpone their retirement.
Did your parents talk to you about money when you were growing up? Do you find yourself wanting to educate your own children about budgeting, saving and other financial topics, but don’t know where to start?
Debt is one of many financial concerns keeping Canadians up at night. The Household Debt Survey reveals that one-in-five Canadians with debt expect they will need to liquidate assets to help pay off—or pay down—their debt. In addition, 62% of Canadians with debt anticipate taking on new forms of debt in the year ahead.