Inflation rate ticks up, but Bank of Canada likely to keep interest rates steady come December
OTTAWA — Canada’s annual inflation rate remained above the central bank’s target for the ninth straight month in October, data showed on Friday, but markets saw few signs the Bank of Canada would hike interest rates next month. Statistics Canada said the annual inflation rate edged up to 2.4 per cent from 2.2 per cent […]
Business insolvencies in Canada climb at fastest pace since 2012 amid higher borrowing costs
Insolvencies among Canadian corporations climbed 4.6 per cent in the third quarter, the sharpest increase in at least six years, a sign higher borrowing costs may be taking a toll on businesses. Some 826 companies filed for insolvency in the three months through September, compared with 790 in the same period a year earlier, the […]
5 Simple Tricks for Saving More Money
The median net worth excluding home equity for Americans approaching retirement age is around $46,000. Using the 4% rule as a guide to sustainable retirement spending levels, $46,000 will provide around $1,840 per year in inflation-adjusted spending power. Throwing sustainability out the window, that $46,000 will provide a couple with a little under three years […]
Savings Rates By Age
The ability to save money is one of the many skills one must learn in order to become financially successful, and one of the most difficult. Moody’s Analytics analyzed different demographics and determined that savings rates increase as we age. Sadly, according to their data, only one age group saves between ten and fifteen percent […]
Kiplinger’s Personal Finance: Smart moves to boost retirement savings now
You still have time before the end of the year to make some money-smart moves that will improve your retirement nest egg. Here’s how: Max out your retirement plan: You may be able to squeeze a little more money from each paycheck for your retirement savings. You can contribute up to $18,500 to a 401(k), […]
5 Workplace Perks That Aren’t as Great as You Think They Are
One of the great things about being a salaried employee is gaining access to a host of workplace benefits, from health insurance to paid time off to a 401(k) plan. But while some of those benefits might seem like awesome perks, the reality is that they’re not all they’re cracked up to be. Here are […]