Canadians now believe they need $1.7 million in savings in order to retire, a 20 per cent increase from 2020, according to a new BMO survey.
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But while the $1.7 million figure may sound overwhelming to working-age Canadians, Dabu said the number says more about the economic mood of the country than it does about real-life retirement necessities. While rising inflation may require tweaks to a retirement plan – such as contributing slightly more to savings each month if you’re a young worker, or making cash flow adjustments if you’re nearing the end of your working career – Dabu said these changes don’t necessarily have to be drastic.When it comes to retirement planning, Dabu said, knowledge is power.
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Canadians now expect to need $1.7 million to retire, up 20% from 2020, BMO survey findsCanadians now believe they will need to save up $1.7 million to retire, up 20% from 2020, says a BMO survey. Find out more
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Canadians now expect to need $1.7 million to retire, up 20% from 2020, BMO survey findsCanadians now believe they will need to save up $1.7 million to retire, up 20% from 2020, says a BMO survey. Find out more
Read more »
Canadians now expect to need $1.7 million to retire, up 20% from 2020, BMO survey findsCanadians now believe they will need to save up $1.7 million to retire, up 20% from 2020, says a BMO survey. Find out more
Read more »
Canadians now expect to need $1.7 million to retire, up 20% from 2020, BMO survey findsCanadians now believe they will need to save up $1.7 million to retire, up 20% from 2020, says a BMO survey. Find out more
Read more »
Canadians now expect to need $1.7M in order to retire: BMO surveyCALGARY — Canadians now believe they need $1.7 million in savings in order to retire, a 20 per cent increase from 2020, according to a new BMO survey. The eye-watering figure is the largest sum since BMO first started surveying Canadians about their retirement expectations 13 years ago. It's also a drastic increase from the $1.4 million in savings Canadians expected to need for their nest eggs just two years ago. The results reflect Canadians' concerns about current economic conditions, particul
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Canadians now expect to need $1.7M in order to retire: BMO surveyCALGARY — Canadians now believe they need $1.7 million in savings in order to retire, a 20 per cent increase from 2020, according to a new BMO survey.
Read more »