Investment icon Warren Buffett says there's wisdom in being "fearful when others are greedy and greedy when others are fearful." 1 He first gave this advice in 1986 and has re-iterated it over the past few decades during times of financial uncertainty: 9/11 in 2001, the 2008 mortgage crisis, the 2011 Black Monday crash and the 2020 global pandemic.
The recent tremors in the US banking system (collapse of Silicon Valley Bank - SVB) have caused some Canadians to question how developments in the US might affects their own savings. The key thing to understand is that there are BIG differences between Canadian and US banking systems.
As people age, maintaining financial independence can become increasingly challenging. However, there are steps that senior can take to help ensure that they can continue to live independently and enjoy their golden years without financial worries.
Below, we will discuss some of the ways that seniors can maintain their financial independence for years into the future.
