There are various reasons why baby boomers debt is so high. According to the 2011 Canadian Census, 9.6 million persons, or close to 3 Canadians out of 10 (29%), were baby boomers. Baby Boomers, the generation born between 1946 and 1964, face challenges unlike any other generation before them. Sometimes referred to as pre-seniors, the […]
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Credit score. If you’re not concerned about your credit score, you should be. Our lives revolve around our ability to access credit – car loans or leases, co-signing a loan for others, mortgages, rental agreements, lines of credit, credit card. In addition to affecting our ability to borrow, credit scores can impact our insurance rates […]
Baby boomers debt crisis. The subject of inheritance is always highly charged – especially if you are in a Baby Boomers debt crisis. Parents seem to be divided into several camps. There are those who are self made and who believe that their kids will learn more from making it on their own than by receiving […]
407 ETR found out that bankruptcy law is complicated. It not only deals with the facts, but with the spirit of the law. Canada (Superintendent of Bankruptcy) v. 407 ETR Concession Company Limited, 2013 ONCA 769 (Bankruptcy and Insolvency Act CanLII) is a very interesting case. It involves Matthew David Moore, a truck driver […]
Reduce debt now to have a Happy New Year! This is the time of year that we vow to take charge of our lives and get healthy, lose weight, join a gym, find love, get a new job…. I’d like you to expand your thinking to include your “financial health” and reduce debt. According to […]
In Canada we wrap ourselves in a blanket of socialized healthcare and believe that our provincial medical plans will protect us from financial ruin. People are unaware that serious illness and medical debt can ruin you financially on both sides of the Border. We feel immune from the financial disaster that afflicts many Americans who experience […]
Will I ever be able to retire?” is a common question amongst the Boomers generation. Last week we discussed the problem of living paycheque to paycheque. This week we’ll be addressing whether or not you will ever be able to retire. That’s right; there is a distinct possibility that many of you may never be able […]
We’ve been discussing the serious issue of seniors in debt, but seniors are not the only ones experiencing serious financial challenges. Those of us still working are facing different, but equally daunting challenges. You have a job and you work hard. You pay all of your bills on time and you pay your taxes. What […]
Last week we discussed “What Do The Golden Years Really Look Like”?This week we’ll be addressing why the majority of seniors are in debt and provide help for seniors in debt. Seniors are facing a myriad of financial issues that have made their anticipated “golden years” anything but golden. The Sandwich Generation: Many are still […]
How did you imagine retirement? A paid off house or condo, winters in Florida, summers on the golf course? You may be one of the fortunate few that actually get to live this retirement dream, but the reality that many seniors face is bleak. Sadly many Canadian seniors in debt are finding themselves drowning in […]