Every week we share news stories, blog articles and other interesting stuff from around the web that received the most views, shares, comments and overall interest on various KeatsConnelly social media outlets. This week we offer a mix of articles discussing retirement savings, raising the retirement age and the loonie and job growth.
Retirement saving top priority, survey shows(www.advisor.ca) Reversing last year’s results, more Canadians cite saving for retirement as a top financial priority compared to paying off debt, according to the RBC RRSP Poll. Over half (52%) are now focusing on increasing retirement savings, with 48% placing a priority on debt reduction, compared to 44% and 54%, respectively, in last year’s poll. The reversal is even more marked among middle-aged Canadians — those 35 to 54 years old — with almost two-thirds (62%, versus 52% last year) focusing on saving for retirement ahead of reducing debt (52% versus 56%)..
With more seniors working already, do we need to raise the retirement age? (www.theglobeandmail.com) For the first time ever, the percentage of Canadian seniors aged 65 to 69 who are still working rose to more than one in four in the autumn of 2013. As shown by statistics Canada, while the life expectancy of Canadians has been steadily rising, the average number of years spent not working has actually been stable since the mid-1990s – due to the fact that more and more seniors continue to work past the traditional age of retirement..
Loonie drops below 92¢ as data reveals Canada’s job growth in 2013 was the worst since the recession (http://business.financialpost.com) OTTAWA — Canada’s economy lost 45,900 jobs in December and the unemployment rate rose to 7.2% from 6.9% in a surprising setback that may add pressure on the central bank to consider cutting interest rates. The employment data released by Statistics Canada on Friday was the weakest since March 2013. The report also showed hiring in 2013 was the slowest since 2009, with year-on-year employment gains in December of just 0.6%, or 102,000…
Enjoy your weekend!