Understanding financial issues is challenging enough for adults, so it’s no wonder many parents struggle when it comes to teaching them to kids.
According to a Harris/Decima Youth Financial Literacy Study for the Canadian Institute of Chartered Accountants, 84% of Canadians believe young people are ill-prepared to manage their finances when they enter the workforce. While 78% of Canadian parents have attempted to teach their children financial management skills, 60% believe that they haven’t been successful. Read more
BY David Wm. Brown and Sarah Brown
Starting a conversation about someone’s age is a sure way to be the least popular person in the room. But while this is a no-go territory for cocktail party chatter, it’s a conversation you need to have with your parents.
Statistics Canada tells us that in 2007, people aged 45 to 64 paid for 75% of elder care. And now, a new generation is realizing that when their parents need long-term care, they’ll be called upon to fund it.