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New survey shows lack of public trust in Musk, DOGE
New data from the Center for Political Communication (CPC) at the University of Delaware shows many Americans have little trust in either Elon Musk or the Department of Government Efficiency (DOGE). In a nationally-representative sample of 1,600 adult Americans surveyed by YouGov between February 27 and March 5, 2025, CPC researchers asked how much trust respondents had in various people and institutions, including Elon Musk, the Department of Government Efficiency, and President Trump. Among the key findings: • 25% of Americans report having “a lot” or “a great deal” of trust in Elon Musk 26% report having “a lot” or “a great deal” of trust in Musk’s Department of Government Efficiency (DOGE). • 33% report having “a lot” or “a great deal” of trust in President Donald Trump. • About half of Republicans report “a lot” or “a great deal” of trust in either (compared to 70% of Republicans who report “a lot” or “a great deal” of trust in President Trump). • Among independent voters, only 11% report “a lot” or “a great deal” of trust in Musk and 13% in DOGE. “As constituents in Republican districts learn about and voice concerns about DOGE’s cuts to Veteran’s Affairs, The National Institutes of Health, National Parks, and the Federal Aviation Administration, it will be interesting to see how public trust in Musk and DOGE may be affected,” said Dr. Dannagal Young, Director of the Center for Political Communication and one of the authors of the survey. “Understanding public sentiment about these unique government entities is essential to help ensure that elected officials are responsive to voter concerns." Visit the CPC's website for full results of the survey. To connect with Young for an interview, visit her profile and click the contact button.
James Sample Writes Op-Ed for Verdict
Hofstra Law Professor James Sample penned the op-ed “Bribery Enters its Golden Age,” published recently on the website Verdict. Verdict publishes legal analysis and commentary from Justia.com Excerpt: In a more rational time, the transfer of millions of meme-coin laundered dollars to political leaders’ personal coffers would be an existential scandal. The same would be true of political leaders extracting policy support in exchange for abandoning unrelated criminal prosecutions. Likewise, for “gratuities” paid to government officials by government contractors. Each individual instance is a serious concern. Yet collectively, even more is at stake. When such patently transactional approaches to the rule of law become standard practice, democracy stands to lose more than individual cases. It stands to lose the cause itself.
Digital platforms have emerged as powerful tools for people impacted by the Russo-Ukrainian War. One professor at the University of Delaware has, for over two years, provided reading resources specifically for the children whose lives have been forever changed by this conflict. Roberta Michnick Golinkoff, the Unidel H. Rodney Sharp Chair and Professor at UD's College of Education and Human Development, has developed a website with free interactive e-books, games and other resources to Ukrainian children. A nationally known expert in childhood literacy, Golinkoff worked together with developers to stock the site, Stories with Clever Hedgehog, with materials in both Ukrainian and English. The multilingual platforms allows displaced families all over the world to engage in shared reading with their children, facilitate early literacy development and promote well-being during a time of stress. In addition to enhancing learning experiences, digital platforms provide an essential sense of community and connectivity for students isolated by conflict. Golinkoff, who has appeared in numerous national outlets including NPR, ABC News and The Conversation, is available for interviews on the site as well as literacy in general. Just click her profile to get in touch.
Work on Snow Squall VR Simulation Moves Forward
Last year, Dr. Jase Bernhardt, Hofstra associate professor of geology, environment, and sustainability, was awarded a $100,000 Road to Zero Community Traffic Safety Grant from the National Safety Council, to develop a VR simulation of driving in a snow squall. The project aims to share information about the onset of snow squalls, the importance of heeding emergency weather advisories, and how drivers should respond if they are on the road when a snow squall occurs. Dr. Bernhardt has partnered with meteorologists from the National Weather Service office in State College, PA, and was in Pennsylvania recently to participate in a press conference and conduct field research supporting his work. The press conference was promoted on PAcast – the official website of the Pennsylvania state government. Local news stations like NBC affiliate WJAC-TV; ABC affiliate WHTM-TV; WPMT-TV Fox43 News; and PennWatch covered the press conference.
A Beginner’s Guide to Expertise Marketing
Audiences today are consuming more digital content than ever, but they’ve also become far more discerning. Algorithms, AI search summaries, and social platforms have changed how information is discovered and trusted. The result is that organizations often get caught up in pushing out content quickly—only to be overlooked when it lacks depth or credibility. From misinformation to shallow click-driven posts, audiences are quick to disengage. What they’re seeking now are authoritative voices backed by proven expertise. That’s where Expertise Marketing comes in: a strategy focused on showcasing real knowledge, research, and experience in ways that build trust, attract attention, and strengthen reputation. According to Edelman’s Trust Barometer Study, experts play a vital role in establishing credibility amongst audiences and developing more meaningful interactions with businesses and organizations. As far back as their 2019 report results showed that 56% of people trust businesses as a source of news and information while only 47% trusted the government. On top of that, they also reported that 73% of participants were worried about false information or fake news being used as a weapon. This distrust has only gotten worse since COVID and the polarizing politics of recent years. With this in mind, there’s a real opportunity for knowledge-based organizations to step up and show their smarts through expertise marketing. What is Expertise Marketing? Expertise marketing is the practice of making the knowledge and skills of your human resources more visible to your partners and audiences. It draws attention to the value that your people can bring as brand ambassadors and strategically leverages the work your experts are doing to tell a more personal story. In many cases, expertise marketing can also be used to showcase your strengths in research and innovation. Creating a stronger digital presence, expertise marketing more effectively uses your channels to connect with audiences such as media, customers, partners and donors. It builds a sense of trust with your audiences and above all else, it helps establish your reputation as an industry leader. Expertise Marketing Defined: The practice of collectively promoting an organization's experts as brand ambassadors to demonstrate their skills or knowledge. Best practices to publish and connect organizational expertise in ways that foster internal discovery, collaboration, shared knowledge and diversity. Activities that leverage expertise to nurture conversations and connections with audiences such as media, customers, partners, government and funding agencies. How to Make Your Expertise More Visible Properly executed, expertise marketing is about harnessing your in-house expertise and making it more visible. By delivering comprehensive, relevant information in a visually engaging format, you can create a window into your organization that helps audiences better understand your offering and encourages more meaningful conversations. Here are three areas where expertise excels: On Your Website There’s a good chance that you already created touchpoints for expertise marketing but they’re just not optimized for audiences. For example, many organizations are unaware that the “About Page” is the second most visited page on a website and may overlook its potential for attracting audiences. Other webpages that strongly benefit from expert content include: Speaker’s Bureaus Media Rooms Employee Directories Faculty Directories Blogs Employee Intranets Awards Recognition Research & Technology Transfer Through Search Engines Content marketing and search engine optimization (SEO) go hand-in-hand – and it’s key to making your expertise more visible. In Google’s search algorithm, factors like trust and authority are significantly impacted by items such as content and expertise. While SEO is no small task, tools like the ExpertFile Platform are designed to make aggregating and optimizing expert content as seamless as possible. In addition, organizations can also improve their rankings by: Identifying and showcasing a range of expertise Using rich media to display expert content Regularly updating your website with expert content Producing content related to current trends and emerging news Through Distribution Networks Showcasing your experts isn’t just about hosting profiles on your own website—it’s about ensuring they are discoverable where key audiences are already looking. By publishing expert content on dedicated search engines such as expertfile.com and the ExpertFile Mobile App, organizations dramatically expand their reach beyond their immediate networks. These channels are designed for the very audiences that matter most—media, event organizers, research partners, donors, and prospective clients—who are actively searching for credible voices to inform stories, shape agendas, and build partnerships. Leveraging these distribution networks amplifies visibility, positioning your experts as go-to authorities well beyond the boundaries of your institutional website. In The Media For many organizations, media opportunities are an afterthought but it’s the perfect way to highlight your expertise and attract a broad range of audiences. Media outlets are constantly on the hunt for topic-specific experts to speak at conferences, weigh-in on their editorials and enhance the overall quality of their reporting. By making your experts more visible to this audience, you’re not only building your brand reputation as an industry authority but you’re also creating opportunities for new revenue. Starting an Expertise Marketing Program Bringing an expertise marketing program to life starts by taking a deeper look at your human resources and pinpointing the people in your organization who can support your expertise marketing initiatives. This post on Identifying Expertise is a great starting point for understanding what makes someone an expert and how you can position them for various tasks in your expertise marketing program. From there, it’s about getting buy-in from key stakeholders, collaborating across departments to surface expert content and strategizing with your team about where your expertise is best served. Download The Complete Guide to Expertise Marketing For a comprehensive look at how expertise marketing benefits the entire organization and drives measurable return on investment, follow the link below to download a copy of ExpertFile’s Complete Guide to Expertise Marketing for Corporate & Professional Services, Higher Education Institutions, Healthcare Institutions or Association & Not-for-Profits.
The Staff Wellbeing (SWell) project was carried out in conjunction with Birmingham Children’s Hospital and NHS England Paediatric critical care (PCC) staff experience high levels of moral distress, post-traumatic stress disorder and burnout Two simple, low-resource wellbeing sessions can be delivered by staff for staff without specialist training. The Staff Wellbeing (SWell) project, led by Aston University researchers in collaboration with Birmingham Children’s Hospital and NHS England, has developed two simple, easy-to-deliver sessions to improve the wellbeing of staff in paediatric critical care (PCC) units in UK hospitals. PCC staff are known to experience high levels of moral distress, symptoms of post-traumatic stress disorder (PTSD) and burnout, but often feel little is offered to help them with their mental health. The SWell team at Aston University, led by Professor Rachel Shaw from the Institute of Health and Neurodevelopment, realised following a literature review that there are no existing, evidence-based interventions specifically designed to improve PCC staff wellbeing. Initial work by SWell identified the ‘active ingredients’ likely to create successful intervention designs. Together with a team from NHS England, the Aston University researchers set up the SWell Collaborative Project: Interventions for Staff Wellbeing in Paediatric Critical Care, in PCC units across England and Scotland. The aim of the project was to determine the feasibility and acceptability of implementing wellbeing interventions for staff working in PCC in UK hospitals. In total, 14 of the 28 UK PCC units were involved. One hundred and four intervention sessions were run, attended by 573 individuals. Professor Shaw said: “The significance of healthcare staff wellbeing was brought to the surface during the COVID-19 pandemic, but it’s a problem that has existed far longer than that. As far as we could see researchers had focused on measuring the extent of the problem rather than coming up with possible solutions. The SWell project was initiated to understand the challenges to wellbeing when working in paediatric critical care, to determine what staff in that high-pressure environment need, and what could actually work day-to-day to make a difference. Seeing PCC staff across half the paediatric critical care units in the UK show such enthusiasm and commitment to make the SWell interventions a success has been one of the proudest experiences in my academic career to date.” The two wellbeing sessions tested are low-resource and low-intensity, and can be delivered by staff for staff without any specialist qualifications. In the session ‘Wellbeing Images’, a small group of staff is shown images representing wellbeing, with a facilitated discussion using appreciative inquiry - a way of structuring discussions to create positive change in a system or situation by focusing on what works well, rather than what is wrong. In the ‘Mad-Sad-Glad’ session, another small group reflective session, participants explore what makes them feel mad, sad and glad, and identify positive actions to resolve any issues raised. The key ingredients in both sessions are social support – providing a psychologically safe space where staff can share their sensitive experiences and emotions without judgement, providing support for each other; self-belief – boosting staff’s self-confidence and ability to identify and express their emotions in response to work; and feedback and monitoring – encouraging staff to monitor what increases their stress, when they experience challenging emotions, and what might help boost their wellbeing in those scenarios. Feedback from staff both running and participating in the SWell interventions was very positive, with high satisfaction and feasibility ratings. Participants like that the session facilitated open and honest discussions, provided opportunities to connect with colleagues and offered opportunities for generating solutions and support. One hospital staff member responsible for delivering the sessions said: “Our staff engaged really well, and it created a buzz around the unit with members of the team asking if they could be ‘swelled' on shift. A really positive experience and we are keeping it as part of our staff wellbeing package.” The team concluded that even on busy PCC units, it is feasible to deliver SWell sessions. In addition, following the sessions, staff wellbeing and depression scores improved, indicating their likely positive impact on staff. Further evaluations are needed to determine whether positive changes can be sustained over time following the SWell sessions. The work was funded by Aston University Proof of Concept Fund and NHS England. Donna Austin, an advanced critical care practitioner at University Hospital Southampton paediatric intensive care unit, said: “We were relatively new to implementing wellbeing initiatives, but we recognised the need for measures to be put in place for an improvement in staff wellbeing, as staff had described burnout, stress and poor mood. SWell has enabled our unit to become more acutely aware of the needs of the workforce and adapt what we deliver to suit the needs of the staff where possible. Staff morale and retention has been the greatest outcomes from us participating in the SWell study and ongoing SWell related interventions.” Read the paper about the SWell interventions in the journal Nursing in Critical Care at https://onlinelibrary.wiley.com/doi/10.1111/nicc.13228. For more information about SWell, visit the website.
Drops in the Bank of Canada rate will not solve housing affordability.
Summary: The Bank of Canada’s interest rate cuts won’t resolve Canada’s housing affordability crisis. Factors such as skyrocketing home prices, unaffordable down payments, and stagnant wage growth are other primary challenges to address. A personal example offered by the author shows how the price of her Toronto home surged over 1,000% from 1983 and 2024 while her wages during the same period rose only 142%. While some see this issue as a consequence of Baby Boomers remaining in their homes, it's more nuanced than that. We have systemic barriers in Canada that necessitate targeted policy changes. It’s time to tackle affordability and implement effective solutions. The Bank of Canada met today, to determine interest rates for the last time this year. They announced a drop of .50 basis points. This is part of a broader effort to stimulate economic growth in Canada, which faces challenges, especially a softening labor market and persistent inflation. Why Should You Care? Interest rates determine how affordable our debt will be and what return we can expect on our savings. Since mortgages represent most consumer debt, interest rates directly impact affordable housing costs, making them very newsworthy. However, interest rates only tell part of the story. When the Bank of Canada lowers its rate, it primarily impacts variable-rate mortgages. These are tied directly to the BoC's overnight rate, so a rate cut can reduce the interest costs on these loans. Homeowners with variable rates would likely see a reduction in their payments, with more of their payments going toward principal rather than interest. People without debt and savings (primarily seniors) will see a drop in their investment returns. In contrast, fixed-rate mortgages, which are not directly tied to the BoC's rate, are influenced more by the bond market, particularly the 5-year government bond yield. The current trend in bond yields suggests that fixed mortgage rates could also decrease over time. Let’s pause here and talk about the affordability of houses and how interest rates are not the reason housing is out of reach for most first-time buyers. A walk down memory lane might offer some perspective. I purchased my first home in the fall of 1983 for $63,500 (insert head shake). I was 27 years old, and before you do the math, yes, I am a Baby Boomer. My first serious (so I thought) live-together relationship had just ended, and I was looking for a place to live. I had finished school and had a good full-time job with Bell Canada. A rental would have been preferred, except I had a dog. Someone suggested that I buy a home. I did not know very much about purchasing real estate or homeownership, for that matter. But I was young and willing to learn. I had been working full-time for two and a half years. During my orientation at Bell Canada, my supervisor told me to sign up for their stock option program. She said I would never miss the money or regret signing up for the plan. She was right. When I purchased my home, there was enough money in my stock account for a down payment and closing costs. My interest rate was a terrifying 12.75%, yielding a mortgage payment of just under $670 monthly. The lender deemed this affordable based on my $18,000 annual wage. Life was good. This was in 1983, when the minimum down payment for a home purchase in Canada was typically 10% for most buyers. However, a lower down payment could be possible with mortgage insurance (provided by organizations like Canada Mortgage Housing Corporation (CMHC), which allowed buyers to put down as little as 5%, provided they qualified for insurance. This was commonly available for homes under $150,000, with stricter terms for higher-priced homes. If you had a higher down payment of 25% or more, mortgage insurance wasn't required, and you could avoid extra costs associated with insured mortgages. This was part of broader efforts by the government to make homeownership more accessible, especially amid the high interest rates of the time. So let's do the math. Circa 1983 I first needed to prove that I had saved $3,175 in down payments and $953 in closing costs for $4128. In the 2.5 years I worked at Bell Canada, I saved $4,050 (including Bell Canada’s contribution) in stocks. I also had another $5,000 in my savings account. $9,000 was enough to complete the transaction and leave me with a healthy safety net. Fast forward to 2024 Let’s compare what the same transaction would look like today. Using the annual housing increase cited on the CREA website, the same house would be valued at approximately $700,000 today. Interest rates are much lower today, at 4.24%, yielding a mortgage payment of $3,545. 1. The down payment rules have changed. For the first $500,000, The minimum down payment is 5%. 5% X 500,000=25,0005\% \times 500,000 = 25,0005% X 500,000 = $25,000 2. The minimum down payment for the portion above $500,000 is 10%. 10% X (700,000−500,000) = 20,00010\% \times (700,000 - 500,000) = 20,00010% X (700,000−500,000) = $20,000 3. Total minimum down payment: 25,000+20,000 =4 5,00025,000 + 20,000 = 45,00025,000+20,000 = $45,000 Thus, the minimum down payment for a $700,000 home is $45,000. Here is the comparison: 1983 Scenario 2024 Scenario Variance Purchase Price: $63,500 $700,000 up 1002% Down Payment: $3,175 $45,000 up 1317% Loan Amount: $60,325 $655,000 up 986% Interest Rate: 12.75% 4.24% down 200% Monthly Mortgage Payment: $670 $3,545 up 429% Wage: $18,000 $43,500 up 142% Gross Debt Service Ratio: 44.6% 97.8% up 119% Time to Save for Down payment: 2 years 12.4 years up 520% *Please note that this example does not include mortgage insurance The real problem As you can see, housing was much more affordable for me in 1983 and far from cheap in 2024. During the past 41 years, wages have increased by 142%, yet interest rates have dropped by 200%. But the most significant impact on affordability has been the over 1,000% increase in housing prices. So why is all the focus on interest rates? At the risk of oversimplifying a complicated issue, I believe the media often uses interest rates as a "shiny penny" to capture attention, diverting focus from deeper housing affordability issues. This keeps the spotlight on inflation and monetary policy, aligning with economic agendas while ignoring systemic problems like down payment barriers and the shortage of affordable homes. Indeed, a movement in interest rates often has an immediate and noticeable impact on borrowers' affordability, making it a hot topic for news and policymakers. However, the frequency and consistency of the Bank of Canada meetings on interest rates give the impression that rates are the primary issue, even though they are just one part of a complex system. For example, even if the Bank of Canada dropped interest rates below zero, it would do little to solve today’s homeownership affordability issue. The real problems: 1. Down Payment Challenges: With housing prices skyrocketing, the 5%- 20% down payment required has become insurmountable for many, particularly younger buyers. High rents, stagnant wage growth relative to home prices, and rising living costs make saving nearly impossible. 2. Lack of Affordable Starter Homes: Due to profitability and zoning restrictions, housing developments often prioritize larger, higher-margin homes or luxury condos over affordable single-family starter homes. 3. Misplaced Generational Blame: Blaming Baby Boomers for "holding onto homes" oversimplifies the issue. They are staying put due to limited downsizing options, emotional attachments, or the need for housing stability in retirement, not a desire to thwart younger generations. 4. Political Challenges: Addressing structural issues like zoning reform or incentivizing affordable housing construction requires political will and collaboration, which can be slow and contentious. A broader lens is needed to understand and address the actual barriers to home ownership. Interest drops are merely a band-aid solution that misses the central issue of saving a down payment. The suggestion that we have an intergenerational issue needs to be revised. The fact that Baby Boomers are holding on to their homes should not surprise anyone. However, Real Estate models that predicted copious numbers of Baby Boomers selling their homes to downsize got it wrong. Downsizing was a concept conceived in the 1980s. Unfortunately, it did not account for record-setting home price increases or inflation, leaving it undesirable for today’s seniors. Although this is a complex issue, a few suggested solutions are worth exploring. What can be done? Focus on Policy Innovations: To create housing, increase supply, curb speculative investments, and provide targeted assistance for builders to build modest starter homes. To create rentals, homeowners should also receive income tax incentives to build Accessory Dwelling Units (ADUs). These could be used as affordable rentals or to house caregivers for senior homeowners. Today, The federal government announced a doubling of its Secondary Suite Loan Program, initially unveiled in the April 2024 budget. This is a massive step in the right direction. To create down payments, adopt a policy allowing first-time home buyers to avoid paying tax on their first $250,000 of income. Then, they could use the tax savings as a down payment. Focus on Education and Advocacy: Include a warning that helps consumers understand that withdrawing from RSPs results in a significant loss of compound interest related to withdrawals and how this can harm income during retirement. Encourage early inheritance to create gifted down payments. Normalize the concept by emphasizing the benefits to the giver and the receiver. Educate the public on using financial equity safely and create down payments as an early inheritance for their heirs. This will shift the conversation and initiate an intergenerational transfer of wealth that empowers the next generation to own a home. The Bottom Line While the Bank of Canada interest rate cut may ease some financial strain for homeowners with variable-rate mortgages, it will do little to address the core issue of housing affordability. The media's fixation on interest rates as a "shiny penny" distracts from more profound systemic barriers, such as the inability to save for a down payment and the lack of affordable housing stock. These challenges require targeted policies, structural reforms, and intergenerational collaboration to be tackled effectively. The focus must shift from short-term rate adjustments to long-term solutions that prioritize accessibility and affordability in housing. Without meaningful action, homeownership will remain out of reach for many, perpetuating the cycle of financial inequity across generations. Dont't Retire... Re-Wire! Sue
The Great Trillion Dollar Wealth Transfer
Summary: Between now and 2026, over $1 Trillion of wealth will move from Canadian Baby Boomers to younger generations. Dubbed the “Great Wealth Transfer,” this change is underscored by a cultural shift toward “giving while living,” where seniors are motivated to share their wealth during their lifetimes, driven by factors including personal satisfaction, rising costs for younger generations, and tax efficiency. These shifts in wealth highlight the importance of open, informed Intergenerational conversations and the need for trusted financial advice to manage this transfer effectively. However, it risks widening wealth gaps between the haves and have-nots. Better financial literacy, tax planning, and a better understanding of real estate’s role in estate planning and wealth management are essential for ensuring equity and sustainable financial legacies. What it Means • The Largest Transfer of Wealth Is Happening Now: Between now and 2026, over $1 Trillion of wealth will move across multiple generations from Canadian Baby Boomers to their GenX and Millennial heirs. • A Culture Shift is Happening: Older Canadians are now, more than ever, “giving while living.” They actively want to share their wealth with younger family members while still healthy. In many families going forward, you won't hear that familiar phrase, "Hey Gram, Stop Spending My Inheritance!" • We aren't fully prepared for this shift: Families need informed, intergenerational conversations among themselves and with trusted financial advisors. They also need to better understand how some of their more significant assets, such as real estate, can provide tax-efficient ways to unlock and share wealth with younger family members. Boomers are sharing their wealth while they still have their health. Many Canadians have joined the growing trend of “giving while living.” This trend is not only changing societal norms but is also spreading like wildfire. The current economic climate, with out-of-reach housing prices coupled with Boomers wanting to witness the impact of their financial gifts, makes for a perfect storm. This storm, valued at 1 trillion dollars, could rebalance the distribution of wealth for many fortunate beneficiaries. Let’s explore what is motivating the Baby Boom generation in Canada to leave a living inheritance to a younger generation: 1. Psychological Reasons: Many seniors want to help their children or grandchildren with significant expenses such as education or home purchases. This provides a gratifying sense of pride. The logic is that they (children or grandchildren) will eventually get their money, so why not give it to them now when they need it the most? 2. Economic Reasons: Some parents or grandparents feel compelled to step in and help financially as they see their adult children and grandkids struggling. It may be to help fund education or to pay off debt such as a student loan. The burden of debt often delays other decisions, such as having children, traveling, or saving for a down payment on a first home or a bigger home to accommodate a larger family. And the price of homes today is well beyond the means of the younger generation, even without student debt. 3. Personal Reasons: Older Canadians often find joy in seeing their financial contributions positively impact their loved ones during their lifetime. Sometimes, there are some less conspicuous motivators as well. Improving their children’s financial situation may entice them to have precious grandchildren, or providing financial assistance could allow the gift giver to have a say on how the money is spent—something they would have less control over if they were deceased. 4. Tax Savings: Distributing wealth while alive can reduce the size of an estate and minimize probate fees. And with the popularity of RESP's and TFSA's there are options to gift or contribute to these plans that may offer tax advantages. And some seniors aim to avoid conflicts by distributing assets directly, ensuring clarity and fairness. 5. Cultural Reasons: Traditional notions of inheritance and family values are evolving. Many Baby Boomers see their wealth as a tool to uplift and empower their families while they are alive and are able to counsel their families on preserving and spending the money wisely. This is an opportunity for seniors to create a legacy while alive. Sharing wealth can bring a sense of purpose, gratitude, and connection. For many, it’s an opportunity to strengthen family bonds and pass on values like generosity, financial literacy, and responsibility. Impact • A Wider Wealth Gap: This transfer of wealth could have a significant impact by increasing the income disparities between the haves and have-nots. According to figures from the Canadian Professional Accountants Association, at the end of 2022, the wealthiest families in Canada (the top 20 percent) accounted for two-thirds of the country’s net worth, while the bottom 40 percent accounted for just 2.6 percent. In this latest economic cycle of soaring inflation and growing credit card debt, the net worth of Canada’s least wealthy households is suffering. And while we’ve seen recent increases in capital gains taxes, more changes from the federal government will likely be required to bridge this wealth divide. • The Need for Honest Intergenerational Conversations. Let’s face it: having a transparent conversation with family members about death and money is awkward. But post-pandemic, we’re seeing more seniors looking closely at their financial and estate plans to see what they can do to pass on wealth to deserving and often younger family members. Getting to know the impact of one’s gifts has its practical advantages in addition to the karma generated. Whether it’s to help a family member buy their first home, pay down college debt or start a business, these gestures can be transformative for other family members and very satisfying for seniors. As the saying goes, "you can’t take it with you." • The Need for Trusted Advisors. For many of these younger beneficiaries lucky to receive this generational transfer, having a clear financial plan that extends to informed tax strategies will be vital. The entire community, from financial planners to accountants, lawyers and mortgage brokers, have a lot of work ahead of them, according to the research. A recent Ipsos Reid study suggests Canadians are primarily unprepared to manage their inherited money. The Ipsos poll (conducted on behalf of RBC Insurance) reveals that 61 percent of Canadians don’t feel knowledgeable about (or haven’t even heard of) the probate process or the process to establish the validity of a will, and 57 percent don’t know that specific insurance policies can mitigate estate tax burden. • Improved Financial Literary for All Ages. Conversations about money also need to extend to better discussions about how significant assets such as real estate holdings contribute to wealth. For instance, given a considerable proportion of many family estates are related to real estate and more seniors are looking to “Age in Place” at home, seniors and their adult children must understand various financial strategies, such as equity lending, that can give seniors the financial freedom to age in place while giving them the cashflow to help younger family members while reducing potential tax burdens. Getting to know the impact of one’s gifts has its practical advantages in addition to the karma generated. Whether it’s to help a family member buy their first home, pay down college debt or start a business, these gestures can be transformative for other family members and very satisfying for seniors. As the saying goes, "you can’t take it with you." The Bottom Line One thing is certain. This is an infrequent event, which, over the next few years, will benefit many. Much is on the line for families, the financial industry, and our government. We should expect to see more discussions on tax reform and addressing wealth disparities to ensure social stability and economic growth. And it will require the financial industry to adapt in a number of ways. For instance, how should we account for these demographic shifts and potentially longer lifespans in our guidelines and how we work with clients? I also hope we see more open and honest discussions about family legacy and financial literacy/education, which play a significant role in preparing the next generation to handle inherited wealth responsibly. As I continue research for my upcoming book, I'm looking closer at demographic trends, gaps in financial literacy, to how our industry needs to work better with Seniors in a way that recognizes these emerging cultural and economic shifts. I'd like to know what you think. Drop me a line in the comments, or reach out to me directly at our new website - www.retirewithequity.ca Don't Retire...Re-Wire! Sue
SEO: Why Expertise Ranks Higher
When the internet took off in the mid-90s, finding content wasn’t for the faint of heart. There were no directories or search engines and if you didn’t know where you wanted to go, you weren’t going very far. In the wild west of URLs, it became abundantly clear that we needed a better way to search. Yahoo brought us our first directory but in a list of websites, everyone’s content looked equal. That’s when Google stepped up to the plate. Right from the early days of search algorithms, they understood that people valued expert content and we needed a way to rank the credibility and integrity of a webpage. Drawing on his academic background, Larry Page introduced the concept that links could act like citations in a research paper. The original idea operated like a voting system; the more links, the higher the rank. While Google still places tremendous value on expertise, their algorithm for search engine optimization (SEO) has become significantly more complex. We know that it’s combination of on-page and off-page factors but at the end of the day, it boils down to delivering the quality content people are searching for. Source: Search Engine Land Give the People What They Want Today’s audiences want to build more meaningful connections with the institutions and businesses they engage, and that requires information. It’s not enough to put out an unimaginative website or tri-fold brochure. While these tactics may have worked a short time ago, traditional marketing often fails to deliver the level of detail audiences need to make purchasing decisions. From transparency to accountability, they have high expectations for organizations and the content they provide. They want to know how a product or service will uniquely work for them and how your organization aligns with their vision and values. Most of all, they need expert perspectives and proof you can deliver results. If you want to remain competitive, it’s essential to keep up with these rising demands for easy-to-find, high-quality content and secure you a key spot on Google’s SERP. Climbing the Ranks with Expertise Organizations, particularly those in knowledge-based industries (academia, consulting, professional services, medicine etc.), need to pay special attention to how Google is tuning its search algorithm to index information that is attributed to experts. Factors like quality, keyword research and freshness are all on-page tactics that help webpages improve their rank. With this in mind, here are just a few ways your experts and their content are contributing to your rank on Google: Meta-Tagging: Meta tags are snippets of text or rich media that help audiences understand what’s on your webpage from the Google SERP. To ensure they deliver the most relevant search results, both Google and YouTube have been updating their meta tagging and schema options to allow expert content to be indexed more descriptively. This includes everything from author attribution to expert answers the prestigious Rank Zero which highlights the best possible result to users at the very top of the page. Freshness: The freshness of content is correlated with content relevance, and it’s something Google highly values when ranking search. Not only will outdated employee biographies and profiles on your site negatively impact your ranking on search engines, but failing to deliver timely, relevant content on trending topics will also hold you back. By regularly updating your website with expert content, you’re showing that you’re an active contributor to that topic – building trust your audiences and increasing your rank on Google. Keywords: Google collects and indexes searches from users every day, so the richness of your keywords is critical to your search ranking. In many cases, you’ll find that expert content has a holistic way of providing information about high-searched topics in your industry. When an expert creates content, they not only include the targeted keywords, but they naturally incorporate latent semantic indexing as well which accounts for related terms. This all feeds into Google’s desire to surface the most relevant content and who better to do that than your experts. All of these factors are important considerations for improving your organic search rank. As a key driver in inbound traffic, improving your organic rank will not only increase brand awareness, but it also delivers higher-quality leads. And by sharing expert content on your digital channels, you’re showing your audiences and Google exactly what makes you an industry authority and why they should engage your business. Download The Complete Guide to Expertise Marketing For a comprehensive look at how expertise marketing benefits the entire organization and drives measurable return on investment, follow the link below to download a copy of ExpertFile’s Complete Guide to Expertise Marketing for Corporate & Professional Services, Higher Education Institutions, Healthcare Institutions or Association & Not-for-Profits.
With the college admissions application season in full swing, Robert Alexander, University Dean of Enrollment Management at Rochester, offers some perspective for all high school seniors as they begin to navigate the process and ultimately make a decision that is a match made, not a prize to be won. "When considering academic fit, don’t spend a ton time, energy and money trying to reverse engineer a way to game the system to find your way in. You don’t want to end up somewhere and find that you’re struggling just to keep your head above water, or that you’re swimming with sharks in a cutthroat and competitive environment. Once you identify a few characteristics that are important to your fit, then you can broaden your aperture to a range of schools that meet some of those parameters—the right size, campus type, focus, selectivity, and academic programs offered. "When it’s time to start filling out college applications, discern how you’ll tell YOUR story: in your essay or short answer responses; in how you determine which teachers you’ll ask to write recommendation letters; and in topics you raise in an interview. Remember, colleges aren’t looking for a single perfect archetype student, but rather a diverse array of students who are interesting in different ways. In fact, more important than someone who might be the “perfect applicant” is someone who acknowledges they’re not flawless, but wants to strive to become better. Find ways to convey what’s authentically you, emphasizing your strengths, but including some areas where you want to grow and change, and maybe some vulnerabilities, too. "As far as financial fit, don’t eliminate any college that seems like a great fit for you just because of the published sticker price. Colleges are required to have a net price calculator on their website. But the only way to know your exact cost is to apply for admission, academic merit scholarships, and federal and state grants."
