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household savingsfinancialpost
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74% Informative
Inflation, higher interest rates and rising unemployment have eroded the purchasing power of the lower income groups.
Lower income households got a reprieve during the pandemic from government aid, but now they are back to where they were in 2019 , spending 105 per cent of their disposable income on essentials.
Higher income earners have also taken the lion’s share of wage increases over the past three years .
A reader and his wife have two tax-free savings accounts (TFSAs), two registered retirement savings plans (RRSPs) and one joint non-registered investment account between them.
Passive investing has changed the game, and it could mean less money in your pocket.
Mortgage strategist Robert McLister ’s Financial Post column can help navigate the complex sector.
VR Score
80
Informative language
81
Neutral language
50
Article tone
semi-formal
Language
English
Language complexity
46
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
15
Source diversity
8