October 28, 2021

Rather than downsize, retiring boomers hope to stay put

If you read the headlines, just about every urban boomer is leaving the suburbs behind and moving into condos or lofts in a trendy downtown area

Yet there's little evidence that most Canadians are actually that open to the idea of moving into a smaller residence as they grow older.

A majority of Canadians aged 50 and over – 83 per cent – said staying in their own homes and paying for home care is the most appealing option for them, accordsing to Royal Bank research.

Even then, while the majority of us want to ''age-in-place'', this doesn't necessarily mean that we expect to stay in the same house. Most people are attached less to a particular pile of bricks and mortar than to a local area – to a network of friends, services and familiar places.

Among those who were already retired, a decision to move out of their home was most often due to a change in their health – 66 per cent – rather than to cash in on their home equity or get closer to restaurants.

"Remaining in familiar surroundings – in a home of their own, in their current neighbourhood and close to family and friends – is definitely how Canadian Boomers wish to live when future health changes occur,” says RBC head of retirement and aging strategies Amalia Costa.

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August 16, 2021

Where the in-crowd is networking

Forget meet and greet.

Now it's connect and tweet.

According to a new study, LinkedIn and Twitter are emerging as the top social channels for many business leaders.

The 2013 Social CEO Report found that 5.6 per cent of Fortune 500 CEOs are now on Twitter compared to just 3.6 per cent last year, and 27.9 per cent are connecting on LinkedIn, up from 25.9 per cent in 2012.

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August 15, 2021

How bad hair can ruin your self-esteem

Bad hair can set the tone for the rest of your day.

In fact, women have stayed home from work, from parties and have even passed up job interviews all because of their hair.

At least that's what a new report out of the UK is telling us.

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August 14, 2021

Should you love it or list it?

A new home feels so...well, new.

But if you can't afford to move, it just makes sense to do so some home renovation projects to make it more appealing while you're living there and to add to the overall value when it does come time to sell.

According to a new survey by Moen Canada, more than 80 per cent of homeowners have undertaken the completion of at least one home improvement project in the past year.

So it's no surprise that more and more Canadians are choosing to stay put and renovate their existing homes to suit their lifestyles and their pocketbooks.

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August 13, 2021

What's wrong with Canadian students?

Ask a first-year college or university student to name the Prime Minister of Canada or to identify the Atlantic Ocean on a map.

You might be surprised by the answers.

"Geo-illiterate students", as the Royal Canadian Geographical Society call them, may be more common than you think.

Sociology students at Memorial University in St. John's Newfoundland made headlines this past January when their professor revealed that many of them could not identify world continents -- let alone the body of water that surrounds their province.

Now other university professors have come forward admitting that this isn't an isolated case.

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August 08, 2021

The secret behind a best-selling product

Cabbage Patch Kids, Tickle me Elmo, Furby, Sophie the Giraffe.

What do these toys all have in common?

Well, they were all highly sought-after toys that stores just couldn't keep on their shelves.

And even though Sophie the Giraffe -- a baby teether -- originated in France in 1961 it is still a hit today with parents and babies alike across the globe.

In fact, more Sophie's are sold each year in France (816,000 in 2010) than babies are born (796,000).

But what is it that makes a tiny teething toy like Sophie so popular?

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August 06, 2021

Bad behaviour costs in pro sports

Adored by millions, Cheered by thousands. Fame and fortune.

Then, in a blink of an eye, it all falls apart.

Endorsements are lost. Cheers turn to jeers. All respect is lost.

Sadly, it happens over and over again in the world of professional sports.

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August 02, 2021

The pros and cons of being a stay-at-home parent

According to the Child Care Advocacy Association of Canada (CCAAC), child care fees are typically the second highest cost to families next to housing.

Not only that, over 70 per cent of mothers are in the work force and yet there are only enough child care spaces for about 20 per cent of the families who need them.

Consider a single parent working at a job with minimum wage. The cost of child care far outweighs the income earned.

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August 01, 2021

Stealing a PIN code is as easy as 1234

You work hard for your money.

So why put your finances at risk with a personal identification number (PIN) that's as easy as 1234?

A study by DataGenetics revealed that people are opening themselves up to identity theft and financial fraud by selecting four-digit PINs that are easy to crack.

When thinking of a four-digit password, many people opt for something that is simple and easy to remember such as a child's birth date, an anniversary or the year they were born.

However, there are over 10,000 possible combinations the digits 0 to 9 can be arranged to create a four-digit PIN code, according to the research.

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July 31, 2021

U.S. retailers land on Canadian soil

First we saw big box stores popping up everywhere in Canada.

Now we are seeing an invasion of U.S. and international retailers setting up shop on Canadian soil.

Forget Wal-Mart -- the Target empire is quickly spreading across Canada.

Our "Truly Canadian" Zellers stores have been taken over by the Americans and are transforming into the Target brand.

Since March, 48 locations have opened across the country with 20 more set to open this month. By the end of the year, Target is aiming to launch 124 Canadian retail stores.

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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...