Crushing Debt: Everything You Need to Know About Government, Banks and Personal Debt

Duration: Full Day
Level: Introductory
Subject Area: Wealth Management
Instructor: David Trahair​​

 
DESCRIPTION:
The world’s finances are in a mess. Massive bailouts have been necessary to save countries including Greece, Ireland and Portugal. Spain and Italy may be next. The U.S. investment banking industry only survived because of a $1 trillion government bailout.
 
The Bank of Canada has recently increased interest rates because household debt levels are at dangerous levels. Canadians’ household debt-to-income ratio has risen to a record high of 171 per cent. It looks like we are on a slippery slope of debt dependency.
 
Where is Canada and the rest of the world headed? Can perpetual government deficits continue? How well prepared is our country, our banks and our households?
 
TOPICS
Human nature and debt. Why people get into debt so easily and what conditions cater to this addiction. What retirement looks like for people who are carrying debt. How we can change our habits.
Canada’s financial condition. Canada’s financial position will be compared to other countries including the U.S. to determine the future impact on businesses and individual investors.
The stability of our “Big Six” chartered banks. Why did Canada’s banks survive the meltdown of 2008/2009 when hundreds of U.S. banks did not? How does their current financial situation position them for the future?
Household debt in Canada today. The rising balance and composition of the debt levels of the average Canadian. How will people cope as interest rates rise and they prepare for retirement? 
Improving your personal financial situation. How to find out your credit score and how to improve it. How to track your spending to plug the cash drains and pay off debt.
The options for people in debt trouble. Debt consolidation loans and non-profit credit counselling agencies. Making a consumer proposal to creditors with the help of a Licensed Insolvency Trustee, and the process and implications of bankruptcy.
 
WHO WILL BENEFIT
Those interested in understanding the implications of debt in order to help their friends, family and clients get ahead in a world addicted to debt.
 
Special Instructions/Notes:
It is not necessary to bring a computer to this seminar.

Each attendee will receive a FREE copy of David Trahair’s book "Crushing Debt".

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