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Updated January 12th, 2018
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Canada's advisers reveal their best suggestions for managing your money in 2018

Globe and Mail ~ January 2nd, 2018

The people who have seen you naked, financially speaking, have some ideas about how you can better manage your money in 2018.

Financial planners and investment advisers in my LinkedIn network were asked a few weeks ago to complete this thought: "If I could change one thing about how Canadians manage money, it would be to…" Here are some highlights from 199 comments covering a great range of topics, starting off with overspending and undersaving.

Note the sense of urgency in many of these comments. Taken together, they suggest a genuine sense of worry about excessive spending and not enough saving and investing. Cynics will say advisers are just prospecting for more money to invest with their suggestions, but that's an evasion. Given the record household-debt levels in this country, all ideas for improving our finances deserve a hearing.

Here's how the planners and advisers answered the question:

"Have them save 10 per cent of their T4 income first, and enjoy spending the rest." (note: The T4 is a tax slip documenting how much gross income you were paid by an employer)
-Barry Rebuck, adviser

"Have them learn to live on 80 per cent of their after-tax income and save the rest for retirement."
-Brenda Antonyshyn, chartered financial analyst (CFA)

Click here to read the full article.