Your lookahead horoscope: June 22, 2025 - The Globe and Mail + MORE Jun 22nd
ETF strategies to help Canadian investors combat a weak loonie + MORE Jan 29th
Should I draw down my RRIF to avoid estate taxes? + MORE Apr 22nd
Stock news for investors: Goeasy shares plunge nearly 60% after lender suspends dividend Mar 13th
Panic Monday: World stock markets plunge again as Trump doubles down on tariffs + MORE Apr 7th
How much does the average Canadian have in savings?
– moneysense.ca
With the high cost of living taking a big bite out of Canadians’ disposable income, it can seem challenging to put away any savings. But the right financial tools—such as a high-interest savings account (HISA) and tax-sheltered registered accounts—can help you keep working toward your financial goals and even grow your money, whatever stage of life you’re in.
Average savings by age in Canada
Canadians aren’t doing too badly when it comes to average savings, socking away funds both inside and outside of registered retirement savings plans (RRSPs). According to Statistics Canada data from 2019 (the most recent information available), we’ve saved this much on average, not including private pensions and non-financial assets like real estate:
Under age 35: $27,425 in non-pension financial assets and $9,905 in RRSPs
Ages 35 to 44: $23,743 in non-pension financial assets and $15,993 in RRSPs
Ages 45 to 54: $39,831 in non-pension financial assets and $41,998 in RRSPs
That was a few years ago…
The Magnificent 7 versus the other 493 S&P 500 companies: What’s the better investment?
– moneysense.ca
The tech sector, driven by some of the world’s largest companies—Apple, Alphabet, Amazon, Meta, Microsoft, Nvidia and Tesla, also known as the Magnificent 7—has fuelled the markets for about two years now. And this isn’t likely to change any time soon, even if those companies (and the sector) take a hit every now and then.
The reason: the world relies on technology—and these companies, in one way or another, are a part of our daily lives. Still, the uneven performance over the past year has left some Canadian investors wondering if they should continue to invest in the Magnificent 7 or buy stocks of the other 493 companies that make up North America’s largest stock market index, the S&P 500.
Personally, I don’t view this as an either-or situation. I think Canadian investors should be looking at both sides—all the time. Not just when the markets fluctuate.
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Allan Norman financial advisor
– moneysense.ca
Meet Allan Norman
Allan Norman, CFP, CIM, is a Certified Financial Planner and founding partner of Atlantis Financial Inc., where he provides flat-fee financial planning. He’s an associate portfolio manager with a fiduciary responsibility at Aligned Capital Partners Inc. (ACIP). Writing a regular column for MoneySense and the Financial Post keeps Norman current and discovering new ways to simplify things for his readers and clients.
His career began in 1995 spending two years as a life insurance agent and two years at a bank before forming Atlantis Financial Inc. Over those years he has developed his three-step interactive approach to financial planning: life planning, financial planning, followed by financial advice around tax, investments, and insurance.
In his experience an interactive collaborative approach is much more effective than collecting your information, going away and preparing your plan, and then presenting you with the plan. Chances are it is not your plan because you weren’t there when it was created, and you won’t absorb much…
