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Pattie Lovett Reid

pattie-lovett-reid-smiling-and-laughing
Pattie Lovett-Reid

For the fourth consecutive rate announcement, the Bank of Canada did exactly what we expected it to do and left the bank rate unchanged at 5%. Inflation is tamer and has decelerated but has not yet hit the desired 2% target. The job market has proven more resilient than anyone initially thought. Yet, the private sector has been scaling back on hiring for the past three months. We don’t know with certainty if our economy is headed toward a soft landing or a mild recession. A far more sensible approach is to set yourself up for success and control what you can in an environment where you feel you have no control. Explore all of your funding options to free up some cash.

Continue Reading 4 min read
pattie-lovett-reid-sitting-and-smiling-in-pink-dress
Pattie Lovett-Reid

Conventional wisdom tells us that older Canadian women are reluctant to talk about their finances because it’s “not polite.” However, HomeEquity Bank is working to smash this stigma and empower Canadian women 55+ to take charge of their financial future by encouraging them to ask the right questions and considering all the financial solutions available to them. While older Canadian women are often stereotyped as financially “vulnerable,” HomeEquity Bank’s research found that women reported improved financial wellness scores as they aged: 63% of older Canadian women reported a financial wellness score of 60+, compared to only 46% of younger women. If you fall into that camp, HomeEquity Bank’s new Financial Wellbeing tool is designed to help you get a measure of your financial wellbeing and provide you access to customized resources.

Continue Reading 4 min read
PLR on Women and Finance
Pattie Lovett-Reid

Women have been making remarkable strides in taking charge of their financial destinies. However, by building on the momentum gained over the years, the relationship between women and money is continuing to evolve and progress. According to a new survey, released by HomeEquity Bank, provider of the CHIP Reverse Mortgage, long-standing financial myths have been both reinforced and shattered, about women and their finances, especially for those who are 55+. The ultimate goal is a simple one, to help women feel more in control of their financial futures and more secure in their retirement. According to the HomeEquity Bank survey, women who were solely responsible for their finances tend to have a higher financial wellness score than those who share the responsibility with other family members (51% versus 41%).

Continue Reading 4 min read
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Joyce Wayne

A-Black-older-couple-outside-their-home
Joyce Wayne

Only about one in three older Canadians are confident they’ll be able to retire when they hope to. In a new report published by the National Institute on Ageing (NIA) entitled “Growing Older in Canada” This research is based on the information received from 5,975 Canadians in 2023. So, which is it? Are older Canadians doing “’pretty well’” or are many struggling. After reading the report, I’m unconvinced that the outlook for retirees is particularly rosy. The majority of older Canadians wish to retire, but close to 40 percent are not sure they have the financial resources to do so. When I retired from teaching ten years ago, I never expected expenses to rise so quickly. Among today’s retirees, there remains a high percentage of home ownership.

Continue Reading 6 min read
a-couple-wondering-whether-to-rent-or-buy
Joyce Wayne

Mason writes, “The housing crisis we hear so much about focuses mostly on the need for affordable places for young families to live. What we hear about less is the effect that skyrocketing rents are having on our senior population.” While Canada’s older population struggles with the average rent for a one-bedroom apartment in Toronto at $2,594, younger individuals face difficulties saving for a down payment on their first house. Without parental assistance or two well-paying jobs, this goal is often unattainable. Over the last 50 years, home ownership has paid off repeatedly, both in the rising value of the different homes I bought when I moved for work and the larger houses I’ve become accustomed to.

Continue Reading 6 min read
old couple celebration new year
Joyce Wayne

My New Year’s message for you is the same one as my daughter offered me. I want each and every one of you to enjoy your retirement, experience good health, be surrounded by friends and family who genuinely care about you, and make sure that you take the time to try new experiences by engaging in hobbies and interests that test you physically and mentally. Retirement can be the most wonderful and fulfilling time. At this age, we have both the time and the accumulated knowledge to enjoy the fruits of decades of hard work and to cherish the connections with the community and friends we’ve nurtured.

Continue Reading 5 min read

Kurt Browning

Kurt Browning holding a dog on a couch
Kurt Browning

Kurt Browning, a Canadian figure skater and the celebrity spokesperson for HomeEquity Bank, partners with his dog to describe the benefits of a CHIP Reverse Mortgage and how it can help you retire in the home you love.

Continue Reading 1 min read
HomeEquity Bank commercial still of Kurt Browning sitting on a bench
Kurt Browning

Kurt Browning, a Canadian figure skater and the celebrity spokesperson for HomeEquity Bank returns to tell you more about the CHIP Reverse Mortgage.

Continue Reading 1 min read
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