Elements of financial planning

First steps to financial literacy

This is a challenging time for building your wealth and saving for retirement. A newly released survey by FP Canada found that Canadians between age 45 and 54 are struggling the most during the Covid-19 pandemic. Over a third in the so-called “Sandwich Generation” (caring for both children and aging parents) say they don’t think they can recover financially, and less than half say they were strong enough financially before the pandemic not to have to worry about their financial health. And the FP Canada 2020 Financial Stress Index indicates that Canadians rank money as their greatest cause of stress in life.