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Family outlook index sinks again to report low
Canadians’ outlook for the economic system deteriorated in February, as a larger variety of households confirmed indicators of fear in regards to the state of their financial savings, in accordance with that newest model of an ongoing monitoring ballot.
The Maru Family Outlook Index dropped to 85 final month, matching the bottom studying since international analysis agency Maru Group began retaining monitor in 2021. The index was 87 in January and 88 in December. The index just about has been on a downward slide since July 2021, when it printed its most optimistic results of 107.
The baseline for the index is 100. A rating beneath 100 signifies detrimental sentiment, whereas a rating above 100 is taken into account constructive. Maru comes up with its family index by asking a panel of about 1,500 folks a sequence of questions in regards to the economic system’s prospects over the subsequent 60 days.
“The important thing factor is that persons are involved in regards to the quantity of financial savings they’ve. That’s what’s underlying all the principle items right here,” mentioned John Wright, govt vice-president of Maru Public Opinion. “It doesn’t appear like they’ve loads available.”
Wright carried out the survey from Feb. 24 to 27. Some 62 per cent of respondents mentioned they thought that they had sufficient cash available to cowl an sudden expense over the subsequent two months, down from 65 per cent in January. The February consequence matched that of October 2022, the final time the index was this low. Regionally, the bottom ranges of accessible financial savings have been recorded in Alberta and Manitoba/Saskatchewan the place 48 per cent and 46 per cent, respectively, estimated that they had sufficient to cowl a shock expense. By age, 47 per cent of Canadians 18-34 and 45 per cent of middle-aged contributors had sufficient financial savings, in the meantime, amongst ladies, it was 38 per cent.
The important thing factor is that persons are involved in regards to the quantity of financial savings they’ve
John Wright, govt vice-president, Maru Public Opinion
Fewer households indicated that they felt their investments and financial savings can be sufficient to maintain them sooner or later; 55 per cent of respondents answered affirmatively, down from 59 per cent in January. February’s consequence was the second-lowest studying after March 2022’s 54 per cent.
Unfavorable sentiment far outstripped any constructive emotions survey contributors might muster relating to the economic system and their private monetary state of affairs.
A rising variety of Canadians — 66 per cent in contrast with 64 per cent in January — mentioned they believed the economic system was on the “incorrect monitor.” The one different time Canadians held a extra pessimistic view of the economic system was in October 2022 when 70 per cent mentioned the economic system was headed within the incorrect course.
The final time a majority of Canadians believed the economic system was transferring in the suitable course was in November 2022.
Additionally, a declining variety of Canadians — 31 per cent in contrast with 35 per cent January — mentioned they thought now was a very good time to spend money on the inventory market with the previous consequence matching comparable views held in October 2022.
On the constructive facet, fewer Canadians mentioned they have been nervous about dropping their jobs. Eleven per cent indicated they feared that consequence over the subsequent 60 days, in contrast with 15 per cent in January. These indicating dropping their job was very doubtless fell to a few per cent from 5 per cent. The final time outcomes have been comparable was in September 2022.
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Did you know gold has been a go-to for people wanting to diversify their investments and guard their income for centuries? Believe it or not, in today’s topsy-turvy economy, gold’s steady yields and proven durability are hot commodities for investors worldwide.
One of the trendiest ways to convert greenbacks into gold is by purchasing gold bars and coins.
Gold coins might be particularly tempting to investors due to their snazzy aesthetic and historical value–in addition to their monetary worth. But where to start–that’s the million dollar question? With so many gold coins out there, how do you decide what (and how) to bet on?
Let’s dive in with the American Gold Eagle coins — a red-hot favorite and a well-known player in the gold coins market.
The U.S Mint whips up these 22-karat gold coins decorated with a Lady Liberty design on the obverse side, while the reverse side flaunts a bald eagle nesting or a bald eagle’s head, year-dependent.
And here’s what’s also interesting–you can claim these American Gold Eagle coins in various weights: 1 oz, 1/2 oz, 1/4 oz and 1/10 oz. The same goes for its ‘cousin’– the American eagle silver coin.
The 24-karat gold Canadian Gold Maple Leaf coin, sculpted by the Royal Canadian Mint, is an absolute stunner.
Hitting the ground in 1979, this golden wonder was in toe-to-toe competition with the South African Gold Krugerrand and is still regarded as one of the world’s purest and most coveted gold bullion coins.
The design? A maple leaf on the obverse side and an image of Queen Elizabeth II on the reverse.
What’s rad is that Canadian Gold Maple Leaf coins come in an array of weights, from 1/25 oz all the way up to 1 ounce.
Say hello to the American Gold Buffalo coin–another popular (and very favored)choice among investors and collectors alike.
The design is a tribute to the 1913 Buffalo Nickel conceived by renowned James Earle Fraser. You’ll see a Native American chief’s profile on the obverse side and an American buffalo on the reverse.
What’s fun to note is that American Gold Buffalo coins are 24 karats—higher purity than American Gold Eagle coins.
Dropping some money into gold coins can be a savvy strategy to protect your overall investment bundle from losses and fend off inflation.
The coins discussed above are top-notch options for anyone keen on adding a dash of the shiny metal to their investment portfolio or who gets a kick out of curating a collection.
Always remember — before making any investment decision, do your legwork, contemplate your investment goals and risk tolerance, and seek advice from a financial guru for individualized guidance based on your unique financial situation. Good Luck!
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We live in an era of rapid economic growth and prosperity. Many cities around the globe have become thriving hubs of wealth, attracting millionaires from various industries.
In this article, we will explore the top 13 richest cities in the world by the number of millionaires. By understanding these prosperous urban centers, we can glean valuable insights into the global economy and the distribution of wealth.
New York City, often referred to as the Big Apple, is undoubtedly one of the wealthiest cities globally. With a high concentration of millionaires and billionaires, it is home to the world’s largest financial market, the New York Stock Exchange. The city’s vibrant economy is powered by diverse sectors, including finance, real estate, technology, and media.
The bustling capital of Japan, Tokyo is a hub of commerce and innovation. With its strong economy, the city has attracted numerous millionaires who have made their fortunes in various industries. Tokyo’s Stock Exchange is the third-largest in the world, contributing significantly to the city’s wealth.
A global center for finance and culture, London is home to a large number of millionaires. Its status as a financial capital has attracted wealthy individuals in banking, hedge funds, and private equity. Additionally, the city’s thriving arts and cultural scene attracts high net worth individuals from around the world.
San Francisco and the surrounding Silicon Valley have become synonymous with technological innovation and entrepreneurship. The city’s thriving tech ecosystem has generated a significant number of millionaires and billionaires, thanks to the success of companies like Apple, Google, and Facebook.
Hong Kong, a Special Administrative Region of China, is a major financial hub in Asia. Its strategic location and business-friendly environment have made it a magnet for wealthy individuals in finance, real estate, and trade. The Hong Kong Stock Exchange is one of the largest and most active in the world.
As Australia’s most populous city, Sydney has a diverse and robust economy. The city’s natural beauty, high quality of life, and thriving business sectors have made it a popular destination for millionaires. Its key industries include finance, real estate, tourism, and technology.
Singapore is a small island nation with a powerful and dynamic economy. Its strategic location as a global trade hub has attracted wealthy individuals from various industries. The city-state’s pro-business environment, excellent infrastructure, and high quality of life make it a top choice for millionaires.
Zurich is Switzerland’s largest city and a global center for banking and finance. Its stable economy, low tax rates, and renowned private banking sector have attracted a significant number of millionaires. The city is also home to major international corporations and a growing technology sector.
Los Angeles is a global entertainment hub, known primarily for its thriving film and television industry. As the home of Hollywood, the city has attracted numerous millionaires and billionaires involved in media, entertainment, and technology.
Los Angeles also has a strong presence in industries like aerospace, fashion, and tourism.
As India’s financial capital, Mumbai is home to the country’s largest corporations, stock exchanges, and banking institutions. The city’s growing economy has generated a significant number of millionaires, particularly in industries such as finance, real estate, and technology. Mumbai is also known for its thriving Bollywood film industry.
Paris, the romantic capital of France, is not only known for its rich cultural heritage and history but also for its robust economy. As a major global financial center, Paris has attracted numerous millionaires who have made their fortunes in industries such as fashion, finance, luxury goods, and tourism.
Toronto is Canada’s largest city and economic powerhouse. The city’s thriving economy is driven by diverse industries, including finance, technology, and real estate. Toronto’s stock exchange is the largest in Canada and the ninth-largest in the world, contributing significantly to the city’s wealth.
As one of China’s most populous and prosperous cities, Shanghai has experienced rapid economic growth in recent decades. The city is a global financial hub and home to the Shanghai Stock Exchange, one of the world’s largest. Key industries in Shanghai include finance, real estate, and technology.
The top 13 richest cities in the world by the number of millionaires showcase the diversity and strength of the global economy.
From finance hubs like New York City and London to technology centers like San Francisco and Tokyo, these cities represent the pinnacle of wealth and success.
As the world continues to evolve, we can expect these urban centers to remain at the forefront of innovation, driving economic growth and prosperity.
New York City currently has the highest number of millionaires, thanks to its strong economy and status as a global financial capital.
Key industries among these cities include finance, real estate, technology, and trade. However, each city has its unique mix of thriving sectors, such as entertainment in Los Angeles and luxury goods in Paris.
Factors that attract millionaires to a city include a strong economy, business-friendly environment, high quality of life, and opportunities for investment and wealth creation. Additionally, cities with well-developed infrastructure, excellent healthcare, and education systems, as well as cultural and recreational opportunities, are also attractive to high net worth individuals.
A high concentration of millionaires can contribute to a city’s economic growth by driving investments, creating job opportunities, and stimulating local businesses. Their wealth and spending can also contribute to the city’s tax revenue, helping to fund public services and infrastructure projects.
Emerging cities like Dubai, United Arab Emirates; Bangalore, India; and São Paulo, Brazil have experienced rapid economic growth and are home to a growing number of millionaires. As these cities continue to develop, they could potentially join the ranks of the top 13 richest cities in the world.
Yes, many of these cities also have a high concentration of billionaires. For example, New York City, San Francisco, and Hong Kong are known for their significant number of billionaires in addition to millionaires.
Wealthy individuals often invest in and support the arts, museums, and cultural institutions in their cities. They may also sponsor events, donate to charitable causes, and commission works of art, contributing to a vibrant and diverse cultural scene.
We hope you enjoyed reading this article. What are your thoughts on the topic?
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