• Latest
  • Trending
  • All
How much money do Canadians need to retire

How much money do Canadians need to retire

14.02.2023
Detailing Studio Chicago: professional care for your car and the benefits of the service

Detailing Studio Chicago: professional care for your car and the benefits of the service

01.06.2025
Construction of garages in Edmonton: how to calculate the cost and what it depends on

Construction of garages in Edmonton: how to calculate the cost and what it depends on

28.05.2025
Noise gets in easier than you think – until you do something about it

Noise gets in easier than you think – until you do something about it

28.05.2025
The air in your home might not be what you think: why air quality matters inside

The air in your home might not be what you think: why air quality matters inside

28.05.2025
Timing and synchronization: how crypto traders can track news and know when to take a break

Timing and synchronization: how crypto traders can track news and know when to take a break

27.05.2025
Прокси как ключ к эффективности в цифровом пространстве

Прокси как ключ к эффективности в цифровом пространстве

22.05.2025
Почему дополнительные автоаксессуары так популярны

Почему дополнительные автоаксессуары так популярны

22.05.2025
Drawing recognition system from Businessware Technologies: what this service can do

Drawing recognition system from Businessware Technologies: what this service can do

23.05.2025
Затискні ручки як ключовий елемент фіксації в сучасному обладнанні

Затискні ручки як ключовий елемент фіксації в сучасному обладнанні

18.05.2025
G1 тест Онтарио Канада: понимание системы штрафных баллов (demerit points)

G1 тест Онтарио Канада: понимание системы штрафных баллов (demerit points)

15.05.2025
Пелец як універсальна приманка для ефективної риболовлі

Пелец як універсальна приманка для ефективної риболовлі

07.05.2025
Онлайн-обучение итальянскому языку как современное решение для занятых людей

Онлайн-обучение итальянскому языку как современное решение для занятых людей

07.05.2025
Canada News
  • News
  • Politics
  • Business
  • The science
  • Economy
  • Crypt
  • Interesting
No Result
View All Result
Canada News
No Result
View All Result

How much money do Canadians need to retire

14.02.2023
How much money do Canadians need to retire
Share on FacebookShare on Twitter

According to a new BMO study, Canadians believe they need to have $1.7 million in savings to retire, which is 20 percent more than in 2020.

This impressive figure is the largest amount since BMO first began interviewing Canadians about their retirement expectations 13 years ago.

The survey results reflect Canadians’ concern about current economic conditions, especially inflation and rising prices, said Caroline Dabu, head of wealth distribution and advisory services at BMO Financial Group.

A sharp increase in the inflation rate in Canada in 2022 exceeded wage growth, which undermines the purchasing power of most families and increases fears about the future. A BMO survey found that only 44 percent of Canadians are confident that they will have enough money to retire according to the plan – 10 percent less than in 2020.

“In the survey, we noticed that 53 percent of Canadians don’t know how much they will need to retire,” Dabu said.

The BMO study also found that about 22 percent of Canadians plan to retire between the ages of 60 and 69, and the average age is 62.

All age groups – 74% of respondents – said they were concerned about how the current economic conditions would affect their financial situation, and 59% said that economic conditions had affected their confidence in achieving their retirement goals.

Share196Tweet123Pin44ShareSendSend
Previous Post

The Bank of Canada raises the rate: reasons

Next Post

How many Canadians continue to use cash

Next Post
How many Canadians continue to use cash

How many Canadians continue to use cash

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest

“Sometimes you are amazed how they are being built in our country.”

03.04.2017

“Ruska Truth”

06.04.2017

Residents do not want to maintain municipal media

03.06.2022

April 16 in Cuba opened the sixth congress of the country’s communist party

“Sometimes you are amazed how they are being built in our country.”

“Ruska Truth”

Detailing Studio Chicago: professional care for your car and the benefits of the service

Detailing Studio Chicago: professional care for your car and the benefits of the service

01.06.2025
Construction of garages in Edmonton: how to calculate the cost and what it depends on

Construction of garages in Edmonton: how to calculate the cost and what it depends on

28.05.2025
Noise gets in easier than you think – until you do something about it

Noise gets in easier than you think – until you do something about it

28.05.2025

© gocanadanews.com, 2018-2022. All Rights Reserved.

No Result
View All Result
  • News
  • Politics
  • Business
  • The science
  • Economy
  • Crypt
  • Interesting