Personal Finance Digest: Finance News [November 2020]

Vol2.IS01

Personal Finance Digest:
Finance News and Commentary

Finance News and Commentary
[November 2020]

In this Personal Finance Digest: November, 2020 issue, we cover the following topics:

CONTENTS

Financial Literacy Month
Why Canadians Think of Working Longer May Be Necessary
What is the Only Thing that Makes Canadians Confident in the Midst of Pandemic?
Canada Ranks 9th in Global Retirement Rankings
Have You Heard about the First Regulated Crypto Trading Platform in Canada?

1.) Financial Literacy Month

Did you know that November is Financial Literacy Month?

The year 2020 is the 10th year anniversary of this so-called initiative and to remind us how important it is to be aware of our financial well-being.

This year has been challenging for many of us, and many Canadians have been going through some financial challenges due to the pandemic.

This year's Financial Literacy initiative aims at helping Canadians to be confident and to take the necessary steps to make better financial decisions. This can be achieved by providing practical tools and information.

It is imperative more than ever that Canadians gain more knowledge, and enhance their skills to come up with sound, informed decisions in choosing appropriate financial services and products suitable to their needs.

After all, when a country’s population improves their financial well-being, the economy also benefits from the overall financial activities.

Read more about Financial Literacy Month initiative.

2.) Why Canadians Think of Working Longer May Be Necessary

Worried about your retirement?

In this article, "Canadians plan to work longer, fear finances won’t recover after pandemic, finds surveys", many Canadians believe that with the current financial situation, given the pandemic impact, there may be a need to keep working past the retirement age.

Retirement savings may not be enough to cover for future expenses.

There are so much concerns going on at the moment.

Canadians have given their responses (through some research surveys conducted recently) on what they think they could do or plan to do.

Follow this article.

3.) What is the Only Thing that Makes Canadians Confident in the Midst of Pandemic?

In what area of economy could one find optimism in the current global health crisis?

In this Financial Post article: "The only thing Canadians are optimistic about right now is the housing market... Overall consumer confidence recorded its first monthly drop since the start of the pandemic.", we could see some hope and optimism on the current Canadian economy.

Some Canadians ( or about "45 per cent of respondents in a weekly survey by Nanos Research") believe the value in the real estate market will increase over a period of six months, while a few Canadians surveyed (13 per cent) said they "believe the values will decrease".

Two major factors that contribute to Canadian's optimism on housing may be due to:

Canadians have access to low interest rates; and
Change in working situations, whereby working from home seems the viable option - that could result to needing more space.

Read more on this article: The only thing Canadians are optimistic about right now is the housing market... on Financial Post.

4. ) Canada Ranks 9th in Global Retirement Rankings

Canada, for the second time has been placed in the 9th position in the Global Retirement Rankings. Canada has also secured a "B" rating.

Benefits Canada reports on this article: "Despite market uncertainty, Canada maintains No. 9 position in global retirement rankings".

The focus on retirement and pension savings has become more important than ever, as we experience financial uncertainty due to the global health crisis.

Read more on this topic on Benefits Canada.

5.) Have You Heard about the First Regulated Crypto Trading Platform in Canada?

Wealthsimple reports on August 7, 2020, that "Wealthsimple Crypto became the first way to buy and sell cryptocurrency in Canada that’s regulated by the government."

Read the story on this article: Wealthsimple Has the First Regulated Crypto Trading Platform in Canada. But What Does That Even Mean?

RELATED CONTENT

SAVINGS MIX DISCLOSURE: Savings Mix is audience-supported. We write articles, curate relevant stories and provide comments to third-party providers and/or affiliate links that we believe may add value to web users' experience; and may result to some form of revenue or commission at no extra cost to our readers.

PersonalFinance News

​Personal Finance Digest: Finance News [November 2020]

​​Personal Finance Digest: Finance News and Commentary

Personal
Finance News

Personal Finance Digest: Finance News [November 2020]

Personal Finance Digest:
Finance News and Commentary