Although many Canadians during the pandemic of March 2020 have saved some money it has not translated into a larger nest egg for most families. In fact, HOOPP says that more than 66% of Canadians haven't set aside any of it at all for retirement. Many Canadians are staying up more at night thinking about everything from how to best take care of their parents in their home or should I transfer them to a retirement home, how do I save for my children's education and more importantly how do I manage my line of credit and pay for the day-to-day living expenses which has just increased because of the cost of inflation (higher lumber, higher natural gas, higher gasoline prices and more expensive fruits, vegetable and meat prices). Retirement planning has had to take a backset for many amid the increased financial pressures on them and their families brought on by the pandemic. In fact, those who are least likely to save - younger and lower income Canadians were the hardest hit the most. Those making $50,000 or less (52 per cent are “very concerned”) to those making over $100,000 (42 per cent). So, savings is impacting the majority of Canadians. Canadians aged 50 and under are twice as likely to report a negative impact to their finances (24%) as compared to those 60 and over (only 11%). With so many people struggling to save, 63 per cent of Canadians fear there’s a retirement crisis brewing. And 65 per cent think saving for retirement is just too expensive to manage. Should I buy RRSPs, TFSAs, contribute more to my DCPP, which investments or ETFs should I purchase? If you have any questions about your retirement or if you are part of the Generation X ( those born between 1965-1980, which I deal a lot with) and are asking yourself am I on track and when can I will I retire or I received or about to receive an inheritance what do I do next? 

If you are asking yourself these questions, searching online for the answers; please reach out to me via e-mail at devin@dlwealthmangement.ca or reach out to me at 416 882-7462 and I would be happy to review your family situation.