Why are so many Canadians still struggling with money when we have such a large banking industry that says it wants to help us?
Today Canada is dominated by five large banks, that now control 91% of the entire Canadian financial service industry, with approximately $4 Trillion in assets. The Royal Bank’s recent purchase of HSBC only amplifies this fact. Many may think that there are larger industries in Canada, however as of 2021 the financial sector is now the largest industry in terms of employment in Canada. There now is so much information out there, it’s hard to know if someone is trying to truly help you or sell you something that is necessary for them to meet their sales quota. Because of this, I want to provide my readers with a basic financial plan strategy. One that every Canadian can fit into their life and we will break it into four stages. Use it as a guideline - something to work towards. Guaranteed, if done as presented, it will reduce the [...]