A new survey from the Bank of Montreal is shedding light on Canadians’ concerns about the economy and the impact it will have on retirement plans.
“You need to plan for the future, send the kids to school, college, everything like that. So, definitely a bit of a concern,” she told CTV News., Canadians now believe they need $1.7 million in savings, including things like the Canada Pension Plan, in order to retire.“It’s a reflection of how Canadians are feeling.
Across all age groups, 74 per cent of respondents said they are concerned about the current economic situation. Faisal Karmali, senior wealth advisor and portfolio manager with the Popowich Karmali Advisory Group, says retirement planning all comes down to the individual.
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