Latest news with #VisaInfinite
Yahoo
7 hours ago
- Business
- Yahoo
7 ways millennials are catching up to boomer wealth
Boomers have amassed a lot of wealth over the years — indeed, about half of total household wealth in Canada is held by boomers, with an average net worth of almost $1.2 million, according to Statistics Canada. So why doesn't their financial advice make sense to millennials? Boomers (those born between 1946 and 1964) are often considered the wealthiest generation. 'A unique historical situation — strong economic growth, affordable housing markets and booming equity markets — allowed them to build up a handsome fortune,' according to an Allianz report. Don't Miss Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich — and 'anyone' can do it The Canadian economy is showing signs of softening amid Trump's tariffs — protect your wallet with these 5 essential money moves (most of which you can complete in just minutes) What is the best credit card in Canada? It might be the RBC® British Airways Visa Infinite, with a $1,176 first-year value. Compare it with over 140 more in 5 seconds But millennials have had a 'rougher ride,' says the report, since 'they were hit by one crisis after another.' So what worked for boomers may simply not apply in today's world — and that could be why there are some money habits that millennials just don't get. Here are seven of them. 1. Buying instead of renting Why rent when you can buy? For many boomers, 'adulting' meant buying a house. Renting was seen as throwing money away. Seventy-eight per cent of Canadian boomers believe home ownership is a good investment, according to a Royal LePage survey. 'The boomer generation strongly values home ownership, for good reason. Real estate has been very, very good to them,' said Phil Soper, president and CEO of Royal LePage, in an article about the survey 'Most are still working and their home equity has become the bedrock of retirement security.' Millennials, on the other hand, are faced with much higher home prices (relative to income), which in many cases is pricing them out of the market — especially during a time of job instability and economic uncertainty. For millennials, renting may be their only option at the moment — but some may also choose to rent. For example, instead of putting money aside for a down payment, they may want to invest that money in index funds rather than home equity. Or they may prefer the simplicity of renting. 2. Keeping money in 'safe' accounts Many boomers keep a portion of their retirement savings in 'safe,' but low-yield, accounts, such as guaranteed investment certificates (GICs). Some may even leave their money in a traditional savings or checking account (or even cash), since they don't want to gamble with their money. But returns on those 'safe' accounts may not outpace inflation, meaning their money loses its purchasing power over time. Millennials came of age as the Internet did, so it makes sense that they may be more comfortable with online and mobile tools to manage their money, including looking for the best savings rates and investment opportunities. Paying for a credit card Boomers know that free is fantastic, unless paying a fee gets you access to bigger, better and more rewarding opportunities. For Boomers, retirement is about freedom — and they start with financial tools that give them more of it, such as a premium credit card. For example, Westjet RBC Mastercard cardholders pay just $119 for a companion ticket, while RBC British Airways Visa Infinite gives you a free companion flight or 50% off a single ticket each year. Plus, almost all premium cards also offer robust travel insurance coverage, as well as airline perks such as lounge access or first-bag checked for free. To make your dollars work harder — upgrade your credit card today. The offres a first-year value of $1,176! — your future self will thank you! Read more: 'You're going to live on beans and rice': This senior told Dave Ramsey she has debt and zero savings — 3. Relying on a pension for retirement When it comes to retirement, 72% of Canadian boomers expect to rely on their pension plan to fund their golden years, according to a 2024 Manulife financial resilience and longevity report. The defined benefit (DB) pension was 'the gold standard when boomers dominated the workforce' in Canada, according to BNN Bloomberg. For millennials, however, a pension isn't a given. As of 2021, 22.9% of private-sector workers in Canada were covered by a registered pension plan, compared to 86.6% of public-sector workers, according to data compiled by Fraser Research. Millennials may be more likely to build a retirement plan based on a mix of retirement savings tools, including RRSPs, TFSAs and brokerage accounts. 4. Staying at the same job until you retire Older generations may view job-hopping by younger generations as a lack of commitment. In their time, loyalty to one company often meant job security and career advancement — and perhaps an early retirement with a decent pension. But for younger generations, the job market is being continually disrupted — particularly by technology. And to get ahead, job hopping may be necessary. The average Canadian worker between ages 18 to 65 holds 10 different jobs throughout their career, according to data from Randstad. Younger generations are 'more prone to restlessness,' with 66% of millennials contemplating a career change in the following 12 months. But this strategy could be paying off for millennials. Data from Hays indicates that job seekers who changed jobs saw a salary bump of 10% to 20%. 5. Spending hundreds annually on cable Cable is the 'preferred type of TV service' for boomers, according to a Media Technology Monitor (MTM) report. That's not to say they aren't embracing digital media (they are) — but they haven't cut the cord on cable, either. About 80% of younger boomers and 70% of older boomers have at least one subscription service, such as Netflix, Amazon Prime, Crave or Disney+, according to the MTM report, more than three in five subscribe to both subscription and cable TV. Millennials are the cord-cutting generation. Not only can they watch what they want, when they want — without ads — streaming services are much cheaper than cable packages. However, with a plethora of streaming services available, some may end up paying as much for multiple services as a typical cable package. Eight in 10 (82%) millennials, the 'first to recognize the value of subscription streaming services', subscribe to at least one streaming service, according to Abacus Data. 6. Refusing to discuss finances Financial topics were once considered taboo — you just didn't talk about money at the dinner table (or any other time). But that's changing. Younger generations are more open to discussing everything from how much money they're making to their investment strategies. Thanks to social media and TikTok, financial discussions are less taboo — even if millennials may still struggle to talk about money with their parents. 7. Seeking advice from professionals Boomers are more likely to seek professional advice on financial matters than younger generations. A survey from Edward Jones and Cerulli Associates found that boomers trust advisors, but millennials trust themselves. Younger generations often turn elsewhere for financial advice, from online resources and robo-advisors to social media influencers. But this is one area where millennials may be starting to follow in their parents' footsteps. Some millennials are now turning to traditional advisors for more complex financial decisions, such as investments and retirement planning. Younger millennials (46%) and older millennials (50%) are 'interested in receiving personal finance information regarding investment strategies,' according to the BMO Real Financial Progress Index. They're also interested in advice about alternative revenue streams. While boomers and millennials may not agree on everything — especially when it comes to money matters — it seems they do agree on having a plan for financial wellbeing. What To Read Next Here's how to retire in 10 short years no matter where you live in Canada — even if you're starting with $0 savings Here are 5 expenses that Canadians (almost) always overpay for — and very quickly regret. How many are hurting you? I'm almost 50 and don't have enough retirement savings. What should I do? Don't panic. Here are 6 solid ways you can catch up Pet owners, here's how you can get up to 90% cashback on expensive emergency veterinary bills — and you can even get a free quote in 30 seconds 1. Statistics Canada: Distributions of household economic accounts for income, consumption, saving and wealth of Canadian households, 2019 (Jun 26, 2020) 2. Allianz: Financial assets: Surprising relief 3. Royal LePage: Survey says 3.2 million boomers in Canada considering buying a home within the next five years 4. Manulife: Baby boomer retirement planning—how employers can help ease the transition (Apr 22, 2025) 5. BNN Bloomberg: Millennials in a pension pickle as they overtake boomers by Dale Jackson (Feb 23, 2024) 6. Fraser Research Bulletin: Comparing Government and Private Sector Compensation in Canada, 2023 Edition by Milagros Palacios, Nathaniel Li and Ben Eisen (2023) 7. Randstad: Is staying in a job too long hazardous to your career? (Dec 11, 2023) 8. Hays: Hays reveals job seekers who switch jobs can see a significant salary increase despite economic uncertainty (Feb 7, 2023) 9. Media in Canada: The latest findings on Baby Boomers and tech by Patti Summerfield (Feb 26, 2024) 10. Abacus Data: Consumer Spotlight: Streaming Services in Canada by Megan Ross (Nov 28, 2019) 11. Edward Jones: More than Money: Canadian Investors are Pursuing Financial Fulfilment (Jun 24, 2025) 12. Ipsos: For Gen Z and Millennials Knowledge is Power as They Look to Increase Their Financial Literacy Amid High Levels of Financial Anxiety (Sept 21, 2023) This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Economic Times
30-06-2025
- Business
- Economic Times
Unlocking India's luxe lifestyle: How Visa Infinite is powering the affluent experience
In today's India, luxury is no longer defined by tangible possessions — it's about crafting a lifestyle brimming with exclusivity, access, and meaningful indulgence. From bespoke travel to epicurean delights, the emerging affluent class is setting a new benchmark for premium living. And in this evolution of aspiration and affluence, Visa Infinite is not just keeping pace; it is committed to leading the way. The new luxe: From ownership to experiences According to the Hurun Global Rich List 20251, India is now home to the third-highest number of billionaires in the world. As more young entrepreneurs enter the millionaire club, affluence is both widespread and youthful. The modern affluent Indian isn't just looking to own; they are looking to live. Whether it is curating a slow travel itinerary through Italy's countryside, dining on a tasting menu curated by a Michelin-starred chef or simply getting whisked through airport formalities with VIP treatment, experiences are becoming the new currency of luxury. This shift is palpable – a study by FINN Partners2 shows that over 81% of Indian travelers now prioritize luxury experiences over extravagant rituals like lavish weddings. And Visa Infinite is helping make these moments possible, with seamless payments and curated privileges every step of the way. How Visa Infinite is winning the affluent game The essence of luxury is having someone know exactly what you want and delivering it with precision and personalization. That's where Visa Infinite stands apart from the crowd. The premium card program offers access to a curated range of privileges across travel, dining, and hospitality, designed especially for the digitally savvy, experience-seeking Indian affluent. When you are travelling, Visa's collaborations across multiple ITC Hotels3 properties and ELIVAAS4-managed premium stays offer cardholders exclusive offers and benefits. And for those who value seamless travel above all, Visa's Meet and Greet service*5 makes every departure and arrival feel first-class, offering everything from fast-track immigration to porter services. When it comes to gastronomy, Visa Infinite holders are invited to Dine with Visa, an experience that includes curated chef-led menus at premium restaurants and exclusive savings. As Visa Infinite promises, 'Life's elite pleasures, the way you like them', every feature is tailored not just for convenience, but for personal resonance. Tap, go, and travel confidently From your smartphone, the upgraded Visa Concierge services become your lifestyle guide, offering personalized benefits across dining, travel, events, shopping, and more. As much as luxury is about unmatched experiences, it's equally about trust and peace of mind, especially in a digital-first world. At Visa, consumer security shapes every innovation. Visa's deep investments in technology and AI ensure that premium payments are also secure payments. From network agnostic AI-powered tools with near real-time fraud detection capabilities like Visa Advanced Authorisation and Visa Risk Manager to the Reserve Bank of India-mandated tokenisation that protects consumer information in each transaction, Visa Infinite marries style with security. Visa has invested over $12 billion6 in technology over the past five years to build a secure, scalable payment ecosystem. This year, it formalized a dedicated Scam Disruption Practice to proactively detect and disrupt complex fraud patterns, which had prevented over $350 million7 in potential losses last year. This is in addition to the $40 billion8 in attempted fraud blocked by Visa's Payment Ecosystem Risk and Control (PERC) framework. Powering a new India, beyond metros Affluence is no longer limited to India's metros. Visa's recent whitepaper, 'Bridging the Gap: Payments in India Beyond Metros', reveals that credit card spending in Tier 2 and 3 cities has grown 4x between 2019 and 2024, outpacing metros. In cities like Agra and Ludhiana, the number of millionaires is rising steadily, and so is the demand for exclusive privileges. Visa is not just observing this shift; it's actively building for it. Through lifestyle cards, personalized financial solutions, and an expansive international network that provides global accessibility, Visa Infinite is ensuring that India's growing affluent population, wherever they are, gets unrestricted access to the world of premium. Visa Infinite: A swipe worth savoring In a world driven by instant gratification, Visa Infinite offers something rare: the luxury of slowing down and savoring every swipe. Whether you are jet-setting across continents, or going for a fine-dining soirée, or simply shopping duty-free in Dubai, Visa Infinite ensures your experience is not only elevated but also effortless. As India's aspirations grow bolder and more experiential, Visa Infinite remains the card that understands, enables, and enhances this new chapter of affluence, delivering loyalty, luxury, and lifestyle at every touchpoint. *T&Cs Apply 1. Hurun Global Rich List 2025 2. FINN Partners 3. ITC Hotels 4. ELIVAAS 5. Visa's Meet and Greet service 6. $12 billion 7. $350 million 8. $40 billion
Time of India
30-06-2025
- Business
- Time of India
Unlocking India's luxe lifestyle: How Visa Infinite is powering the affluent experience
In today's India, luxury is no longer defined by tangible possessions — it's about crafting a lifestyle brimming with exclusivity, access, and meaningful indulgence. From bespoke travel to epicurean delights, the emerging affluent class is setting a new benchmark for premium living. And in this evolution of aspiration and affluence, Visa Infinite is not just keeping pace; it is committed to leading the way. T he new luxe: From ownership to experiences According to the Hurun Global Rich List 2025 1 , India is now home to the third-highest number of billionaires in the world. As more young entrepreneurs enter the millionaire club, affluence is both widespread and youthful. The modern affluent Indian isn't just looking to own; they are looking to live. Whether it is curating a slow travel itinerary through Italy's countryside, dining on a tasting menu curated by a Michelin-starred chef or simply getting whisked through airport formalities with VIP treatment, experiences are becoming the new currency of luxury. This shift is palpable – a study by FINN Partners 2 shows that over 81% of Indian travelers now prioritize luxury experiences over extravagant rituals like lavish weddings. And Visa Infinite is helping make these moments possible, with seamless payments and curated privileges every step of the way. How Visa Infinite is winning the affluent game The essence of luxury is having someone know exactly what you want and delivering it with precision and personalization. That's where Visa Infinite stands apart from the crowd. The premium card program offers access to a curated range of privileges across travel, dining, and hospitality, designed especially for the digitally savvy, experience-seeking Indian affluent. When you are travelling, Visa's collaborations across multiple ITC Hotels 3 properties and ELIVAAS 4 -managed premium stays offer cardholders exclusive offers and benefits. And for those who value seamless travel above all, Visa's Meet and Greet service* 5 makes every departure and arrival feel first-class, offering everything from fast-track immigration to porter services. When it comes to gastronomy, Visa Infinite holders are invited to Dine with Visa , an experience that includes curated chef-led menus at premium restaurants and exclusive savings. As Visa Infinite promises, 'Life's elite pleasures, the way you like them', every feature is tailored not just for convenience, but for personal resonance. Tap, go, and travel confidently From your smartphone, the upgraded Visa Concierge services become your lifestyle guide, offering personalized benefits across dining, travel, events, shopping, and more. As much as luxury is about unmatched experiences, it's equally about trust and peace of mind, especially in a digital-first world. At Visa, consumer security shapes every innovation. Visa's deep investments in technology and AI ensure that premium payments are also secure payments. From network agnostic AI-powered tools with near real-time fraud detection capabilities like Visa Advanced Authorisation and Visa Risk Manager to the Reserve Bank of India-mandated tokenisation that protects consumer information in each transaction, Visa Infinite marries style with security. Visa has invested over $12 billion 6 in technology over the past five years to build a secure, scalable payment ecosystem. This year, it formalized a dedicated Scam Disruption Practice to proactively detect and disrupt complex fraud patterns, which had prevented over $350 million 7 in potential losses last year. This is in addition to the $40 billion 8 in attempted fraud blocked by Visa's Payment Ecosystem Risk and Control (PERC) framework. Powering a new India, beyond metros Affluence is no longer limited to India's metros. Visa's recent whitepaper, ' Bridging the Gap: Payments in India Beyond Metros ', reveals that credit card spending in Tier 2 and 3 cities has grown 4x between 2019 and 2024, outpacing metros. In cities like Agra and Ludhiana, the number of millionaires is rising steadily, and so is the demand for exclusive privileges. Visa is not just observing this shift; it's actively building for it. Through lifestyle cards, personalized financial solutions, and an expansive international network that provides global accessibility, Visa Infinite is ensuring that India's growing affluent population, wherever they are, gets unrestricted access to the world of premium. Visa Infinite: A swipe worth savoring In a world driven by instant gratification, Visa Infinite offers something rare: the luxury of slowing down and savoring every swipe. Whether you are jet-setting across continents, or going for a fine-dining soirée, or simply shopping duty-free in Dubai, Visa Infinite ensures your experience is not only elevated but also effortless. As India's aspirations grow bolder and more experiential, Visa Infinite remains the card that understands, enables, and enhances this new chapter of affluence, delivering loyalty, luxury, and lifestyle at every touchpoint. *T&Cs Apply 1. Hurun Global Rich List 2025 2. FINN Partners 3. ITC Hotels 4. ELIVAAS 5. Visa's Meet and Greet service 6. $12 billion 7. $350 million 8. $40 billion
Time of India
30-06-2025
- Business
- Time of India
How Visa Infinite creates memorable experiences with life's finest luxuries
India's rising tide of affluence has brought with it a new wave of discerning consumers – those who seek bespoke experiences, expecting nothing less than seamless access to the world's finest. As aspirational Indians redefine luxury, Visa Infinite meets their evolving demands and elevates their experiences. A gateway to the extraordinary, Visa Infinite is designed for those who expect more – from luxurious stays, gourmet dining to seamless travel, and smart, secure spending. Here are five ways Visa Infinite can elevate how you live, travel, and experience the best the world has to offer: Enjoy life's finest moments with Visa Infinite by your side. From 24/7 Visa Concierge services to extraordinary experiences and unlimited access, with Visa Infinite, every moment becomes an opportunity to live exceptionally. *T&Cs Apply
ILoveQatar.net
29-06-2025
- Business
- ILoveQatar.net
Doha Oasis & Ahlibank partner to elevate lifestyle experiences of Ahlibank Credit Card holders
Doha Oasis and Ahlibank Q.P.S.C. have joined hands in a strategic partnership that brings together two leading Qatari institutions in a collaboration designed to elevate the lifestyle experiences of Ahlibank Credit Card holders. The strategic partnership will unlock exclusive privileges across Doha Oasis destination portfolio of luxury, entertainment, sports and culinary experiences. At the heart of this offering is the 5-star Banyan Tree Doha Hotel by la Cigale Msheireb, the iconic Doha Quest—Qatar's first indoor theme parkhome to two Guinness World Record-breaking rides—and Printemps Doha, the largest luxury department store in the Middle East, as well includes access to Doha Oasis Padel, featuring world-class indoor courts. The collaboration will also offer in the near future special offers at Novo Cinemas at Doha Oasis which include Novo Signature, Novo 7-Star, Imax, Novo Kidz, Novo Bowling and more. This initiative reflects a shared commitment to curating bespoke, high-end experiences for Ahlibank loyal customers. Under this new partnership, eligible Ahlibank Visa Infinite and Signature Credit Card Holders will enjoy a range of privileges across Doha Oasis destination. These benefits have been designed to offer memorable and convenient access to the iconic venue attraction and experiences, reinforcing both partners' commitment to quality unique customer-centric experiences. Speaking on the occasion, Mr. Victor Agha, Chairman of Doha Oasis, stated, 'Across our destination experiences, from luxury hospitality to immersive entertainment, wellness and global culinary experiences, we've curated offerings that reflect the highest standards of excellence in Qatar. This strategic partnership with Ahlibank brings those experiences closer to their valuable customers. By aligning with a leading financial institution, we're reinforcing Doha Oasis as the premier lifestyle and leisure destination in the region.' Mr. Hassan Ahmed AlEfrangi, CEO of Ahlibank, added, 'This strategic partnership with Doha Oasis underscores Ahlibank's commitment to building meaningful alliances that enrich the lifestyle of our customers. By joining forces with one of Qatar's most iconic destinations, we're able to offer our Visa Infinite and Signature Credit Card holders access to exceptional experiences that reflect the quality and exclusivity they expect. Together, we are elevating what it means to bank with Ahlibank — combining financial value with premium lifestyle rewards. This partnership marks an important milestone for both entities, reflecting a long-term vision of collaboration and service excellence. It also aligns with Qatar's broader strategy to develop and diversify its high-end tourism and hospitality offerings. Further details of the offers and eligibility criteria will be made available to Ahlibank Visa Infinite and Signature Credit Card through the website and social media channels. Source & cover image credit: Press Release
