Discover financial empowerment resources
Discover financial empowerment resources
This Financial Resilience Institute report, authored by Eloise Duncan and commissioned by FP Canada and the Institut québécois de planification financière (IQPF) is being published for everyone with a stake in the financial resilience and well-being of Canadians. This study, leveraging the...
Recent increases in the cost of living and declining real estate values had unprecedented impacts on net saving and wealth for more financially vulnerable households in the first quarter, such as those with lower incomes, less wealth, and in younger age groups. Statistics Canada has gathered data...
According to Employee Benefit Research Institute (EBRI), workers with household incomes of $75,000 or more are more than twice as likely to say they feel they can handle an emergency expense than those with household incomes of less than $35,000. This report outlines the results of the 2022 survey...
Parents can save for their children's postsecondary education by opening and contributing to a Registered Education Savings Plan (RESP) account, which provides tax and other financial incentives designed to encourage participation (particularly among lower-income families). While the share of...
This study from Statistics Canada explores how increases in top earnings and the representation of women among top earners affect the overall gender earnings gap in Canada. Results show that even though the representation of women in top earnings groups increased from 1978 to 2015, their continued...
Who Pays: A Distributional Analysis of the Tax Systems in All Fifty States (the sixth edition of the report) is the only distributional analysis of tax systems in all 50 states and the District of Columbia. This comprehensive report assesses tax fairness by measuring effective state and local tax...
Income volatility describes income which is inconsistent (not received on a regular and predictable basis), unstable (amount varies each time it is received), and that fluctuates month to month by a significant percentage. TD’s report, Pervasive and Profound, has found that Canadians...
This Economic Insights article documents the characteristics of families with children under the age of 18 who hold registered education savings plan (RESP) investments. The article also examines the relationship between holding an RESP account at age 15 and postsecondary enrolment between the ages...
This new Poverty Trends Scorecard consisting of four reports now presents an update of the information on income, wealth, and inequality. Over three years later, the recovery has yet to fully take hold. The individuals and families who bore the brunt of the 2008–09 recession face continuing...
This article examines changes in the wealth of Canadian families (i.e. total family assets minus total family debt) over the period from 1999 to 2012, with a particular focus on changes across income quintiles. The paper also examines changes in the concentration of wealth across income quintiles,...
We characterize rates of intergenerational income mobility at each college in the United States using administrative data for over 30 million college students from 1999-2013. First, access to colleges varies greatly by parent income. Second, children from low and high-income families have very...
We use data for a large sample of Ontario students who are observed over five years from their initial entry into high school to study differences in postsecondary education participation. The students are grouped by average neighbourhood income and birthplace (Canadian or foreign‐born). We find...
...
The federal government’s decision this year to cancel family income splitting and lower the annual contribution limit for tax-free savings accounts was driven largely by concerns about income inequality. Research by the Canadian Centre for Policy Alternatives, Parliamentary Budget Officer and...
This brief from Statistics Canada shows the high-income trends among Canadians in 2014. In recent years, the average total income of the top 1% has remained roughly stable, growing 0.4% from 2009 to 2014, while the average total income of all taxfilers...