Gen Z: They Need Tax and Financial Services, Too
Gen Zs are a very special cohort, and tax and financial who are future-focused will want to pay special attention to their tax and financial needs. Age 18-34, these individuals are facing massive changes in their lifetime, at a time when life should be filled with the joy of embarking on the road to independence. No surprise: this generation is filled with financial anxiety. Worse still, many of them already have CRA problems.
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Bankruptcy: The Role of Parents in Assisting Their Children
The rising wave of insolvencies in Canada, which we discussed in part one of this three-part series, has left many families grappling with financial difficulties. This increase has been predominantly driven by consumer insolvencies, which have increased by 13.8% from May 2022 to May 20231. Amid this financial turmoil, it has become increasingly common for parents to dip into their retirement savings to bail out their financially distressed adult children. This article, part 2 of 3, seeks to explore the option of bankruptcy and its implications, and why parents might want to consider guiding their children to speak with a Licensed Insolvency Trustee instead of outright financial rescue.
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Insolvent Millennials – Tax and Student Loan Options That Can Help
A study conducted about six months ago found that on a per-population basis, millennials were 1.4 times more likely to file for insolvency than Gen X aged 42 to 56, and 1.7 times more likely than baby boomers aged 57 to 76. Insolvent millennials were on average 33 years old and owed an average of $47,283 in unsecured debt. Now, with the summer upon us, and tax season behind us, the time is right to meet with these stressed generations and find out whether the tax system can help and whether their student loans can in fact be forgiven. Check out this summer checklist of important actions for potential insolvents:
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Society of RWM Meeting of the Minds – Dodging the Retirement Crisis
Canadians’ confidence in their ability to retire on time seems to have plummeted, according to recent data. Is there a retirement crisis? The Society of Real Wealth Managers™ will explore the issue and ways RWMs can help in a special Meeting of the Minds on August 16 at 12 PM CST. Join us for this important (and free) event…RSVP now!
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Savvy Professionals Invest in Education that’s Immediately Impactful
Whether you need CE credits or prefer an academic pathway to specialization, CE Savvy™-PD Micro-Course collections are designed to help savvy professionals invest in education that’s immediately impactful and implementable. Here’s why that’s important at a time when everything has changed:
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