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There’s no shortage of rules of thumb when it comes to investing. A longstanding adage is that 100 minus your age gives you the percentage of your portfolio you should invest in stocks. If that were the case, then setting your portfolio mix would be relatively straightforward since it would only involve changing your allocation by 1% on every birthday.
For many Canadians, midlife brings a unique kind of pressure, and it’s not always talked about openly, yet affects millions. Children may still need financial or emotional support as they navigate school, early careers, or the high cost of housing. At the same time, aging parents may begin to rely more heavily on help with daily living, medical appointments, or financial decisions.
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Are you aware that in Canada, your deposits may be protected if your financial institution were to fail? Do you know the coverage limits, how much is protected, and how? Let’s dive into the corporation that was established by the government of Canada to keep your deposits safe and secure, CDIC.