Millennial Moment What happens to millennials in retirement if they never get into the housing market?

friends-laughing

TheGlobeandMail.com:

No single issue highlights the financial predicament of millennials like home ownership. Rising tuition costs and the growth in temporary work at the expense of permanent jobs are definitely challenges for young adults today. But the cost of houses outweighs them because it affects their financial well-being today, and in retirement. A poll to be issued by KPMG on Thursday lays out the problem in depressing detail. Millennials are eager to buy homes and bear the financial load, but they also recognize that the cost of home ownership will hurt their ability to save for retirement. Some will never afford a home, which means they won’t have a potentially valuable asset to deploy as part of their retirement plan.

Related articles

Newsletter Images Articles

How Lower Interest Rates Affect Canadians

Canadians have been anticipating an interest rate decrease for the past six months. Why is the market so excited about an interest rate decrease? An ...
Read More →
Podcast Cover Podcasts

Episode 264: Top 10 Investment Mistakes

Welcome to another episode of Think Smart with TMFG, your go-to podcast for what’s newsworthy and relevant to everyday Canadians. Join Senior Financial Advisor Rob ...
Read More →
Newsletter Images Articles

Top 5 Tax-saving Tactics Every Gen-Xer Should Know

In this week’s article, we’re exploring five essential tax-saving strategies explicitly tailored for Gen Xers. Born between 1965 and 1980, Gen Xers are in their ...
Read More →

Financial Planning Advice from Canada's Top Financial Advisors

Sign Up To Receive Email Updates On The Financial Industry And Complimentary Workshops.

By providing your e-mail address you provide The McClelland Financial Group of Assante Capital Management Ltd. with your express consent to send you electronic communications. If you choose to discontinue receiving e-mails, you may withdraw consent by contacting tmfg@assante.com.

FREE RESOURCE

Get actionable financial insights from the Top financial planners in Toronto.

Toronto's Top Financial Advisors
Copyright Assante Wealth Management. © 2024

Disclaimer | Assante advisory services are offered through Assante Capital Management Ltd. Assante Capital Management Ltd. is a Member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. The services described may not be applicable or available with respect to all clients. Services and products may be provided by an Assante advisor or through affiliated or non-affiliated third parties. Some services and products may not be available through all Assante advisors. Services may change without notice. Insurance products and services are provided through Assante Estate and Insurance Services Inc.

We have a team of advisors each specializing in varying portfolio sizes. Please let us know the approx. amount of your investable assets to help us to direct you to the advisor that is best suited to you.