New Money and You: Seniors Edition empowers Canadians with knowledge and builds financial confidence
OTTAWA, ON, June 1, 2023 /CNW/ - The Canadian Foundation for Economic Education (CFEE) and IG Wealth Management (IG) today launched Money and You: Seniors Edition, a free resource to enhance financial literacy and confidence among Canada's seniors.
The announcement was made at the Bank of Canada Museum in Ottawa to coincide with Seniors Month in Ontario and Global Day of Parents. Seniors from the Ottawa region joined federal and provincial government representatives, the RTOERO and representatives from CFEE and IG.
Money and You: Seniors Edition was developed based on IG's extensive experience working with clients who are approaching or in retirement and CFEE's direct engagement over the years with seniors at hundreds of workshops and other events. It's a free online resource available in English and French, that can be read, downloaded, or printed, according to the user's interest.
The resource, organized in a series of easy-to-follow modules, deals with a variety of personal finance topics tailored and specific to seniors, including but not limited to government pension sources, budgeting and borrowing money, retirement income planning, death of a spouse or parent and planning for cognitive impairment. It is a companion to the highly successful program, Money and Youth: A Guide to Financial Literacy, of which more than 750,000 copies have been distributed to homes and schools across Canada over the last 25 years.
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''Financial literacy is a crucial tool for Canadians to navigate their retirement years," said Minister of Seniors of Canada, Kamal Khera. "The launch of Money and You: Seniors Edition will provide invaluable support to seniors, so they are well equipped to enjoy a secure and dignified retirement, and focus on what matters the most: spending time with their loved ones."
"June is Seniors Month in Ontario," said Raymond Cho, Minister for Seniors and Accessibility. "This month is an important opportunity to salute and honour the knowledge, experience, and the contributions that Ontario's older adults have made and continue to make every day in our communities."
"Through our engagement with clients, we've found that many of those who are close to or are in retirement are unsure about several aspects related to their personal finances and this prompted us to collaborate with CFEE to launch this important resource. We're thrilled to provide seniors across the country with tailormade insights to help increase their knowledge – and build their financial confidence," said Damon Murchison, President and CEO, IG Wealth Management.
"Canada has an aging population with more and more Canadians in, or approaching, their senior years. "Money and You: Seniors Edition" aims to equip seniors, and soon to be seniors, with the knowledge to empower them to make informed and wise financial decisions," said Gary Rabbior, President of the Canadian Foundation for Economic Education. "CFEE extends our thanks to IG Wealth Management for its generous support, both for this program and other important initiatives over the years. We also extend our thanks to the Bank of Canada Museum for graciously hosting the launch of our latest resource."
About CFEE
CFEE is a federally chartered, non-profit, non-partisan organization, founded in 1974, that works to improve economic and financial literacy and enterprising capability. CFEE works collaboratively with ministries and departments of education along with school boards, schools, educators, and teacher associations. CFEE also engages in activities to support and assist newcomers and past immigrants to Canada, and the general public including print resources, videos, workshops, and online resources. Overall, CFEE aspires to help Canadians of all ages be better prepared to undertake their economic roles, responsibilities, and decisions with confidence and competence.
About IG Wealth Management
Founded in 1926, IG Wealth Management is a national leader in delivering personalized financial solutions to Canadians through a network of advisors located across Canada. IG Wealth Management, including Investors Group Financial Services Inc. and Investors Group Securities Inc., has $117.3 billion in assets under advisement as of April 30, 2023, and is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial, together with its subsidiaries, is one of Canada's leading diversified wealth and asset management companies with approximately $263.0 billion in total assets under management and advisement as of April 30, 2023.
SOURCE IG Wealth Management
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