The changing labour market, which makes it difficult for many to project their earnings, has resulted in many falling behind on their savings, new TD report finds
There is a lack of basic financial literacy skills among Canadians to understand and manage their debt
Financial planners and financial advisors can use behavioural psychology enabled by technology to help clients save more for retirement
The increase came as income rose by 1.1%, while household credit market debt gained 1.2%
Encourage them to find ways to lower expenses and set a clear plan
Canada's financial system remains vulnerable to the continued rise in house prices across the country
Real estate represents a higher share of assets and mortgages make up the largest share of liabilities for all but the lowest income group
But while some may benefit from professional financial guidance, 26% are unsure of where to turn to get professional financial advice
Many Canadian seniors are carrying significant debt and they don't appear to be too worried about it. In some cases, your role may be to help your clients manage their debt while still encouraging them to have a retirement saving plan
The online consumer lending company is preparing to raise more capital in early 2017