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The long-awaited recession in the U.S. appears unlikely for now, with U.S. GDP suggesting robust expansion. Canadian economic output has been comparatively sluggish, but let’s not forget the central banks’ objective in raising interest rates was to slow growth to curb inflation. Economic resilience has largely surpassed expectations partly due to low unemployment, which continues at relative lows.
Early this year, prognosticators and investors were optimistic about rate cuts, with the bond market pricing in a whopping six for the year. These same folks, it should be noted, were highly pessimistic about what would happen to financial markets if these cuts didn’t happen. Well, here we are five months into the year and, thanks to stubborn inflation and an American economy that just won’t make a soft landing, two things are clear: (1) interest-rate cuts in the United States are not coming any time soon; and (2) financial markets are anything but dire.
Following two difficult years, the need for giving continues to grow, in Canada and across the world. For those who would like to make philanthropy a part of their legacy, here are seven key considerations (and surprising tax benefits) you should be aware of.
Stepfamilies are common, but planning for who gets what after you die is anything but routine. When families come together, each with their own possessions, ensuring your assets go where you want is key.
Many people know at least a little about RRSPs. But what about RRIFs? If you’re in or nearing retirement, are you ready to begin the big conversion? Here’s a quick guide to the world of RRIFs.