The Canadian Foundation for Economic Education and Scotiabank Announce Initiative to Promote Family Money Discussions in Advance of Seniors’ Day in CanadaCFEE09.29.22
Toronto, Ontario – September 29, 2022 – The Canadian Foundation for Economic Education (CFEE) and Scotiabank today announced an initiative to promote family talks about money on Senior’s Day in Canada on October 1, 2022. CFEE and several of its partners are reaching out to seniors across the country for their ‘Big Ideas’ on what the federal government could do to assist seniors. The results will be presented during the Toronto Global Forum, a gathering of global and domestic business and government leaders, October 17-19, 2022.
To obtain the ‘Big Ideas’, CFEE will be reaching out to its database of over one hundred seniors’ organizations. It is also working with its strategic partner, RTOERO, and its other partners to reach many thousands more. CFEE plans to explore each of the big ideas, assess their viability and use them as a mechanism to engage government and business leaders for solutions.
The insights gained from this research will help inform future topics for Let’s Talk Money: Seniors, a resource launched by CFEE and Scotiabank earlier this year, that equips seniors and their adult children with the tools and guidance they need to have meaningful and informative conversations when planning for their financial futures. The program addresses a wide range of challenging yet important topics that often come up when considering inter-generational financial matters, including retirement, living situation, managing assets, life insurance, wills and inheritance, power of attorney, and more.
To access the wealth of tools and resources offered by Let’s Talk Money: Seniors, please visit http://letstalkmoneyseniors.com/. Seniors and their families can also access a range of additional resources and support tools through Scotiabank’s Seniors Resource Centre.
“Let’s Talk Money: Seniors is an important new program for seniors and their families in Canada,” said Gary Rabbior, the President of CFEE. “It comes off the heels of a CFEE survey which found that 72% of seniors with adult children agree it’s important to talk about their financial situation with their children, but one-in-five (19%) admit to never having those conversations.
“At Scotiabank, listening to and supporting our clients is our number one priority,” said Ahmad Dajani, Vice President and Seniors Champion at Scotiabank. “We’re proud to work alongside CFEE and its partners on this latest initiative and look forward to hearing their valuable insights on how we can better serve the unique needs of seniors and their families.”
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.
Scotiabank is a leading bank in the Americas. Guided by our purpose: “for every future”, we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of over 90,000 employees and assets of approximately $1.3 trillion (as at July 31, 2022), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @Scotiabank.
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Joseph F. Clark
Canadian Foundation for Economic Education