Cooper Financial Group Victoria

Unlock Financial Freedom: Mastering the Art of TFSA – Navigate Limits, Maximize Gains, Secure Your Tomorrow. https://ow.ly/laeB30szKsk

Baby boomers who plan to pass on all their assets to their millennial children expect to leave an average inheritance of $940,000, according to a survey from Sun Life Financial Inc., conducted by Ipsos. That figure is even higher among those working with a financial adviser, the survey said, with those boomers expected to leave just over $1 million to their children.

Baby boomers expect to leave $1 million or more to their kids — much to millennials' surprise Millennials aren't prepared for the windfall they're about to inherit.

At first glance, life insurance and annuities might seem like opposites. Life insurance is primarily used to pay your heirs when you pass away. An annuity grows your savings and pays you income while you’re still alive. However, some life insurance policies let you build savings while alive, and annuities can include a death benefit payment.

Annuity vs. Life Insurance: What's the Difference? While both are insurance products, how they pay policyholders differs

The Bank of Canada’s decision this week to hold its benchmark interest rate steady at five per cent as it attempts to battle inflation was welcome news for many. But the effects of both higher interest rates and inflation on the tax system will be felt in the new year in at least a couple of ways based on recent economic data available over the past week or so.

Inflation, interest rates will have a surprising effect on your taxes next year The Bank of Canada’s decision this week to hold its benchmark interest rate steady at five per cent as it attempts to battle inflation was welcome news for many. But the effects of both higher interest rates and inflation on the tax system will be felt in the new year in at least a couple of ways ...

Investors should still expect a bumpy road ahead. As much as we should hope for better economic times to materialise, it would be wiser to plan for a bumpy road ahead.

Why this common retirement savings rule doesn’t hold up Planning for your golden years doesn’t have to scare you. The reality of retirement is far more positive than people think. Ian McGugan answered commonly asked questions about planning for life after work. Here’s one to start.

Is The Stock Market In A Bubble Right Now? The rapid growth against a mixed economic backdrop has some analysts questioning whether we’re entering bubble territory

"I Got Nailed Again By Identity Theft!" Here’s What He Did To Shut It Down Someone stole Forbes contributor John F. Wasik's credit card number from an account he hadn’t used in two years. Here's how he handled it.

Inflation slows to 3.4% in May, taking pressure off Bank of Canada to hike in July The rate of inflation slowed in May, with the consumer price index increasing 3.4 per cent year over year, Statistics Canada said on June 27.

Retirement crisis brewing as baby boomers near end of working lives with little, if any, savings Close to half of those aged 55 to 64 only have $5,000 or less put aside for retirement, HOOPP survey says.

Happy bull-market days are here again – sort of The wisest course may be to keep in mind Deutsche Bank’s waiting-game analogy. It will most likely take several months for the economic picture to clarify.

A 10 Step Financial Workout To Improve Your Financial Health No matter how out of shape you feel financially, there are steps you can take to bring yourself back to financial health.

How much greater is the CPP pension if you wait until 70 to start? If you wait until 70 to start CPP pension, the amount payable is adjusted upward.

How improving your financial literacy can help ease stress in a tough economy Whether you’re a young adult starting out in a first job like Robbins, a prospective homeowner shopping for a first house, or a recent retiree learning to get by on a fixed income, brushing up on your financial knowledge can help to build confidence and freedom.

Cooling inflation ‘might have been a false dawn’: How economists and markets are reacting to a surprisingly hot CPI reading Canada’s annual inflation rate ticked up to 4.4% in April, as higher shelter costs contributed to the first acceleration in the consumer price index in 11 months. The reading surprised the Street, which was looking for a further easing in the rate of inflation after it hit a peak of 8.1% last June...

It’s ‘never too early, never too late’ to learn financial literacy, experts say Experts say it’s never too late to learn financial literacy. And on the flip side, they say it’s never too early to begin teaching your children financial literacy.

Why Your Budget Isn’t Working — And 5 Ways To Fix It Fast Here's how to fix your budget if you want to be great with money, stop stressing about finances, and be able to claim financial freedom some day.

Are retirees forced to draw down their RRIF balance too quickly? The C.D. Howe Institute believes that the RRIF minimum withdrawal rates are too high, leaving older Canadians at risk of outliving their tax-deferred savings.

How much money do you really need to retire? Here are the factors you should consider There are certain rules of thumb to finding a retirement magic number, but retirement planning needs to be personalized, say financial experts.

Canada’s inflation rate falls to lowest level since August 2021 Even grocery prices are rising at a slower pace.

Lacking financial literacy, young people are taking it into their own hands In 2020, Jonathan Atwin and his partner jumped on the personal finance wagon, teaching themselves all about money and how to manage it better.

Financial watchdog proposes ‘mortgage relief measures’ to help struggling homeowners The Financial Consumer Agency of Canada’s proposed guidelines would give banks more discretion to extend amortization periods and offer other breaks to borrowers.

How rising interest rates are exposing bank weaknesses Banks face new dangers as interest rates rise, depositors opt for higher returns in assets such as cryptocurrency, and real estate loans cause concern.

Could the banking crisis threaten your savings? Here are some steps you can take so you don’t get burned Rising rates are causing a lot of stress throughout the economy and that stress will manifest itself in different ways. It’s a good time to review the tried-and-true principles of prudent investing.

Yes, there is risk in Canadian bank deposits for the unwary and complacent With scary headlines about global banks piling up, CDIC is your best stress reducer. Are you fully protected? Find out right now.

Three mysteries at the heart of the market and what they mean for investors Three mysteries lie at the heart of today’s economy. Investors may want to spend a moment pondering them because how these puzzles resolve themselves will have a lot to say about where the market goes next.

Look beyond grocers such as Loblaw: Food insecurity is going to get a lot worse Political theatre aside, there's no going back to lower food prices, and as geopolitical tensions rise around the world, it's likely that food insecurity will worsen.

Canada’s inflation rate is expected to fall significantly this year. Here’s why After a steep and rapid climb in prices, Canada’s inflation rate is expected to fall significantly this year, giving comfort to economists worried about untamed price growth but little relief to Canadians who have fallen behind.

Spousal RRSPs can offer tax benefits, but experts say it might not work for everyone Canadian couples looking to save money in retirement may turn to spousal RRSP accounts, though financial experts caution it might not work for everyone.

Moving homes to save and shrinking emergency funds. New report outlines Canadians’ financial worries One in four Canadians say they could not afford an unexpected expense of $500, according to Statistics Canada.