There are three trends that will guide the Canadian economy in 2017. Those are:
- the strength, or lack thereof, of oil prices;
- domestic housing developments; and
- whether the U.S. economy continues to improve.
So says Russell Investments’ 2017 Global Market Outlook, which calls for modest growth in the coming year for Canada.
“Moderate improvement in the price of oil and reasonable growth of the U.S. economy are weighed down by debt-laden households,” says Shailesh Kshatriya, director of Canadian strategies at Russell Investments Canada Limited. “We expect domestic equities to be positive, but without the exuberance of 2016. However, domestic bonds likely will be challenged as lacklustre fundamentals may be partially offset by rising yields in the U.S. […] On balance, we see 2017 economic growth in the range of 1.6% to 2%.”
by Caroline Hanna
You’re never too young to make smart financial decisions. Whether you entered your 20s with a solid savings portfolio funded by your parents, saved up some of your own money, or spent it all on education, here are four tips on how to get ahead financially.
01 Start now
A lot of 20-somethings feel they’ve missed the savings boat. You haven’t. You may have missed out on high interest rates, but the principles of savings apply, even when rates are low.
Worries about personal finances are at the top of the list when Canadians talk about their sources of stress. By clearly showing you where your money goes, a budget is a simple but powerful tool that can help you feel in control and protect you from unexpected financial surprises.
Take this Financial literacy self-assessment quiz to see how well you’re doing at staying on track.
by Kim Siddall
Increasing longevity, better health and the elimination of mandatory retirement means many Canadians are delaying their retirement past age 65, presenting employers with both advantages and challenges for managing benefits for this unexpected segment of their workforce.
Statistics Canada’s last census indicated that one in four Canadian seniors were still working in some capacity past the traditional age of retirement, whether driven by choice or economic necessity. This finding was echoed by Sun Life’s last Unretirement index last year, which pointed to a growing number of Canadians who fully expect to still be working full time at age 66. In fact, 2015 marked the first year in the seven years of the study that more respondents expected to be working full time at 66 than those who expected to be fully retired. Read more