Markets in record territory
Canada’s main stock index pushed higher into record territory in late-morning trading, helped by gains in the energy sector as the price of oil moved up. The S&P/TSX composite index was up 69.25 points at 16,927.60, after hitting an intraday record of 16,947.23 in earlier trading. In New York, the Dow Jones industrial average was […]
Home equity fuels spending
Canadian homeowners who accessed their home equity through a loan or refinancing helped fuel household spending in recent years, according to research by staff at the Bank of Canada. Household spending moved in a similar direction to home prices over roughly the past decade, with both rising sharply in 2016 and 2017, according to a […]
More oversight on mines
The B.C. government is asking for public feedback on proposed changes to the Mines Act that it says will improve regulation and oversight of the mining sector. The Ministry of Energy, Mines and Petroleum Resources says in a news release it’s proposing to formally separate authorizations and permitting from enforcement and auditing powers. It’s also […]
Ready to Retire in Your 50s? Ask Yourself These 4 Questions First
Many people dream of retiring early, and for you, that could mean leaving the workforce during your 50s. And there are plenty of good reasons to go this route. By retiring young, you’ll get a chance to travel or enjoy your newfound free time at a point when you’re likely to have a decent amount of […]
48% of millennials have no idea how much money they have in savings—here’s the amount they should have
Too many millennials (ages 23 to 38) are in the dark when it comes to their savings. Nearly half (48%) don’t know how much they have in their personal savings, according to data from Northwestern Mutual’s 2019 Planning & Progress Study, which polled more than 2,000 U.S. adults. It’s important to be aware of how much […]
58% of Older Adults Say They’re “Terrified” of This Retirement Expense
When planning for your golden years, many people prefer to think about the “good” costs they’ll face. Considering vacations, home renovations, or new hobbies, it can be fun to plan for the leisurely side of retirement. But there are plenty of dangerous costs associated with your post-working years, too. In general, workers are most worried […]
Don’t let Fed interest-rate cut derail your savings
The Federal Reserve’s recent interest-rate cut might help frequent credit card users, but it offers nothing for people trying to build a cushion of savings. The central bank announced on Wednesday it was reducing its benchmark interest rate by one quarter of a percentage point, its second rate cut this year, and that could pinch your wallet, […]