Unloading debt is first step to retirement
Filed Under Main Content · Tagged: Alex, British Columbia, Business Money, Debt Load, Financial Assets, Limited, Retirement
A couple we’ll call Alex, 45, and Susan, 43, make their home in British Columbia with their son, age 16, who is in Grade 11. They want to plan retirement, but with a debt load equal to four years of income and few financial assets, their choice of when to quit work is limited.
Unloading debt is first step to retirement
How Canadians are growing richer but deeper in debt
Filed Under Main Content · Tagged: Canadians, Credit Debt, Federal Statistics, Financial Assets, First Quarter, Fourth Quarter, Globe And Mail, Globe Mail, House Prices, Household Credit, Household Debt, Household Income, Liabilities, Mortgages, Net Worth, Residential Real Estate, Rose, Statistics Canada, Stocks, Trillion
The Globe and Mail- Canadians are getting richer as stocks and house prices rise. Household net worth rose 1.3 per cent in the first quarter of the year, or $74-billion, to $6-trillion, Statistics Canada said today, as the value of assets eclipsed the rise in liabilities. “This follows a 1.8 per cent advance in the previous quarter,” the federal statistics gathering agency said. “Gains in the value of financial assets, especially equities, as well as increases in residential real estate contributed to the advance in net worth.”
Household debt also rose, particularly mortgages, Statistics Canada said. The ratio of household credit market debt-to-income now stands at 147 per cent, up from 144.9 per cent in the fourth quarter of 2009…
How Canadians are growing richer but deeper in debt – The Globe and Mail
