Good morning! Most people carry a rough sense of where they stand financially — good enough, behind, coasting — without ever checking it against a number. Today's stories are less about advice and more about that gap between feeling and fact.
On The Money Today:
Why counting on a part-time job to fund retirement is riskier than it sounds
The 5 financial markers that reveal if you're actually ahead of the average Canadian
Why 91% of Canadians have no backup plan for a serious diagnosis
Let’s dive in.
RETIREMENT
More Canadians than ever are counting on part-time work to stretch their retirement savings. New data shows that plan often falls apart right when people need it most. Find out what actually derails it, and how to build a retirement that doesn't depend on a job you might not get.
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MANAGING MONEY
Money stress is at a record high across the country, but the numbers don't always match how bad things feel day to day. A handful of financial markers can reveal whether you're actually doing better than most Canadians, even if your bank balance doesn't feel like it. Check which ones apply to you before assuming you're behind.
FEATURE
Nearly 700 Canadians are diagnosed with cancer every single day, and most have no financial backup plan if it happens to them. A staggering number of Canadians say their savings would run dry within six months of a major illness — yet almost none have the one coverage built specifically for this gap. Find out what it actually covers, what it costs, and why so few people understand it.
MONEY IQ
What is the median net worth for Canadian households aged 55 to 64, according to StatCan's 2023 Survey of Financial Security?
ALSO MAKING THE ROUNDS TODAY
INSURANCE: Your health premiums are about to climb 8.3% — here's what Canada's top regulator says is coming
MONEY IQ: HOW'D YOU DO?
Answer: A) $873,400 — the highest median net worth of any Canadian age group, ahead of the 65+ bracket, whose household net worth is $738,900.
That's a wrap for today! Before you go, we'd love to know what you thought of today's newsletter. Hit REPLY if you have more to share — we read every reply.
