US EditionTwo-thirds say saving for retirement is harder than it was for their parents: BMO
A BMO survey finds 67% of Canadians say retirement planning is harder than for their parents, with many planning financial help for adult children that may impact their own retirement.
- Two-Thirds of Canadians surveyed say saving for retirement is harder than it was for their parents, with 73% of millennials, 67% of Generation X, 61% of Generation Z and 60% of boomers believing so.
- The survey by BMO also found that 77% believe retirement will be harder for the generation after them, and almost half plan to help their adult children financially, which 83% say could affect their retirement plans negatively.
- BMO's Paul Lalonde and Lydia Potocnik say with uncertainties around the cost of living and retirement, Canadians feel anxious about saving enough, and intergenerational wealth transfers have become critical for financial planning, requiring estate planning strategies.
13 Articles
13 Articles
73 Percent of Millennials Say Retirement Will Be Harder for Them Than for Their Parents
More than two-thirds of young Canadians are worried they will face greater challenges than their parents in accumulating savings for their retirement years, a new survey suggests. But the survey also found more and more parents plan to help their adult children, even to the detriment of their own finances. A report published this week by the Bank of Montreal (BMO) found that 73 percent of Millennials surveyed say retirement planning will be more…
The Toronto Star
Many believe saving for retirement is harder than it was for their parents: BMO
TORONTO - Many young Canadians believe they will have a harder time than their parents saving up for their golden years, according to a new survey.
Almost half of Canadians (49%) plan to provide financial assistance to their adult children, although this will have a negative impact on their retirement.
castanet.net
Two-thirds say saving for retirement is harder than it was for their parents: BMO
A new report says two-thirds Canadians surveyed say saving for retirement is harder than it was for their parents. The report by BMO said 73 per cent of millennials surveyed believe retirement planning will be more difficult than it was for their parents followed by generation X at 67 per cent, gene...
73% of millennials think retirement planning will be more difficult. The post Retreat: Many young Canadians are concerned about their savings appeared first on Les Affaires.
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