How are the Bank of Canada rate cuts impacting personal finances?
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not offered interest rates 😢
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Banks are becoming less reliable than in the past. The looming banking crisis is expected to be significant and devastating for those who are not ready. I recently withdrew $370k from my bank to invest in bonds and stocks of companies with strong cash flows. I think it's a great opportunity to seize the market for long-term profits. Any suggestions for promising stocks would be welcomed.
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Indians bought houses, Canadians are homeless
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The distress for banks was a farce; what we have experienced in the past 2 years is a result of a system that has worked incredibly well. The Fed just had to tighten credit to cool the economy.
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It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
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The real problem are the unaffordable prices, not interest rates lol
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What a joke a 0.25 rate cut is about $15 on every $100,000 you borrow. Which means on a $1,000,000 mortgage you can save $150/ month just enough to take your kids to Boston pizza once a month.
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Put it towards not going to the food bank.
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Perhaps these talking heads should have provided their expertise to Trudeau and Freeland and Canadians wouldnt be hurting so bad
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This has no impact on our broken economy: we can not buy food
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The misinformation in the segment is sad. Talk to your financial advisor.
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Interest rate itself is RIBA and needs to be brought down to zero
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The more salient question is:
How has Justin's poor fiscal management impacted your finances and standard of living?
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Interesting how toronto condo sale prices still haven't gone up as many expected, with all the cuts
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