March 12th, 2015 → 7:15 pm @ MacDev Financial Group| Stephen Devlin // No Comments
A recent study conducted by Fitch Ratings, a global leader in credit ratings and research, hit the Canadian stands this week outlining a complete review of Canada’s top seven financial institutions. And they all received stellar scores.
According to a press release on MarketWatch.com, the seven banks that Fitch Ratings reviewed were: Bank of Montreal (BMO; rated ‘AA-/F1+’), Bank of Nova Scotia (BNS; rated ‘AA-/F1+’), Canadian Imperial Bank of Commerce (CIBC; rated ‘AA-/F1+’), Caisse Centrale DesJardins (CCD; rated ‘AA-/F1+’)National Bank of Canada (NBC; rated ‘A+/F1′), Royal Bank of Canada (RBC; rated ‘AA/F1+’) and Toronto-Dominion Bank (TD; rated ‘AA-/F1+’).
But as we all know, once you are at the top, there is nowhere else to go but down, and while Canada’s bank rating remains stable, the experts at Fitch Ratings have reason to be wary of the A plus reviews.
For starters, Canadians are carrying a record-breaking total of personal debt by the end of 2013—an average of $27,368 based on a TransUnion study—with an expected growth in debt to $28,853 by the end of 2014.
And let’s not forget the United States’ housing market bubble burst heard ‘round the globe. Is Canada heading in the same direction? It looks like it could be. Bloomberg recently reported “the central bank cut its benchmark interest rate a quarter of a percentage point to .75 percent.” It did so in an effort to bolster the economy from the drop in crude oil exportation.
Once again you might find yourself asking, “Why am I giving control over my money to anyone else other than me?” If you are, then I highly recommend taking a closer look at Bank on Yourself. Not only do you maintain control over your money by creating your own personal bank, you make money from your money just like any traditional bank would.
Why give your money to someone else and let them make money off of it? It sounds a bit ludicrous when you put it that way, doesn’t it?
Take your future into your own hands. With Bank on Yourself, you will always score an A+
Tags: CPA, Financial Advice, retirement advice, retirement information, Tax Advice, Tax Information, Tax Tips
