The sandwich generation

Being a part of the sandwich generation can be a tricky balancing act as you are raising your kids and trying to support your parents as they age. While you are taking care of your loved ones, it can be easy to lose sight of your own goals.

Your Scotia advisor can work with you to find the best path forward for your situation. Check out our tips on planning for you and your family’s future.

Book an appointment with an advisor to help you prepare a financial plan that fits your lifestyle.

Book an appointment

Top money tips

How can you build a solid financial future while carrying so many responsibilities? Follow our tips and get the help you need when planning and working toward your goals.

Read article

How to spot — and avoid — investment scams that could drain your accounts

Protect yourself from investment and crypto scams by seeing red flags early.

Quiz

What’s the difference between ETFs and mutual funds?

Please select one of the following answers:

A. The profits from mutual funds are tax-free, but profits from ETFs (exchange traded funds) are taxable, except in Quebec.

B. ETFs (exchange traded funds) are sold only by banks and investment companies. On the other hand, mutual funds are pools of investments that are sold and managed by professional stockbrokers.

C. Mutual funds are bundles of stocks that are easy to buy and sell, but ETFs are known as exclusive traded funds because they can only be bought by experienced investors.

D. ETFs (exchange traded funds) can be bought and sold just like stocks, while mutual funds can only be purchased through a financial institution at the end of each trading day.

Watch video

How to plan for retirement

Did you know…

The average debt of people aged 46-55 has jumped to over $31,442.*

Learn how to organize your finances and prepare for the future

Read article

5 ways to maximize your RESP

From saving automatically to taking advantage of government grants, don’t leave money on the table with the RESP.

Watch video

How taxation works when withdrawing from an RRSP vs. a TFSA

Read article

How to spot and avoid AI scams

Learn about the latest techniques being used to take advantage of older adults, such as deepfakes and AI-enabled spam calls.

Quiz

How can you start saving for retirement at an any age?

Please select one of the following answers:

A. Assess your spending and prepare a budget.

B. Pay down your debt.

C. Set savings goals and save consistently.

D. All of the above.

Did you know…

Canadians’ household budgets are squeezed from almost all angles as the price of goods rises. Over 53% of Canadians say they can’t keep up with the cost of living.**

Learn about inflation and its impact on your money

Watch video

How to teach your kids some good money habits

See all Sandwich Generation articles

Frequently asked questions

Send Interac e-Transfers to your favourite contacts quickly

Select the star icon to save up to 5 of your favourite contacts when you send, request, or manage Interac e-Transfers.

Dispute incorrect Visa transactions right from the app

Dispute incorrect transactions on your Scotiabank Visa credit card or ScotiaLine access card quickly and easily from our app. Find the transaction in your Visa account’s transaction history to access the transaction details, then select Dispute this transaction.

Lock your debit card if it’s been misplaced

If your debit card has been lost or misplaced, you can temporarily lock it from anywhere, using our app. If you find your card, unlocking it is just as fast. Go to the account, select Manage, then Lock or unlock card.

Get answers fast with the Scotiabank chatbot

The Scotiabank chatbot answers everyday banking questions and can connect you with a live chat advisor for more support. Select the Search & chat icon from the home page, then Chat with us.

A Registered Retirement Savings Plan (RRSP) is a government-regulated investment account with special tax benefits to help you maximize your retirement savings. Deductible contributions to an RRSP help reduce your taxes, and any income you earn on your investments while in the plan grow tax-deferred.

Visit the Retirement Savings Plans page on our website to learn more.

To access Scotia Smart Money, go to your Scotia mobile banking app and tap Advice+ on the main menu.

Learn more about Scotia Smart Money by Advice+.

Direct Deposit / Set Up Your Payroll
We’ve simplified how to access your direct deposit information. Instead of a payroll form, all you need is the banking information included on your void cheque. Learn how to get a copy of a void cheque here.

Send yourself an Interac e-Transfer from another account To send an Interac e-Transfer, all you need is an email address, online access to your bank account at a participating financial institution and the email address or mobile phone number of the person that you are sending money to.

Mobile Deposit Conveniently deposit cheques anytime, anywhere with Mobile Deposit, there's no need to go to the branch or ABM. Instead, you use your smartphone or tablet to take a picture of your cheque and deposit it into your chequing or savings account.

To make a contribution to your Momentum PLUS Savings Account (MPSA):

From your Accounts page, select Transfers
Go to Transfer Funds and select Between Accounts
Choose either Once or schedule a Recurring transfer
Choose the From and To accounts, enter an amount, and a date
Select Continue and then Confirm to complete the transfer

Useful tools

Learn where you can save

A great way to plan for your financial future is to understand where you are now. Use our calculator for a better picture of your finances and to see if you have additional funds available to put towards your goals.

Scotiabank Budget Calculator