BMO Survey
Anxiety with tougher retirement
Inflation is not just squeezing household budgets – it is shaking Canadians’ confidence that their retirement money will last. As advisors juggle rising client anxiety with tougher retirement trade‑offs amid stubborn inflation.
According to the latest BMO Retirement Survey, nearly three quarters (74 percent) say rising prices have intensified worries about having enough savings for their “golden years.”
Brent Joyce, chief investment strategist at BMO Private Wealth, said “inflation is a threat to retirement savings, but it doesn’t have to derail our clients’ plans.”
Among respondents who said inflation is hurting their finances, many can quantify the strain.
Nearly half (47 percent) estimate they are spending an extra $100 to $300 per month on necessities, while about one third (34 percent) say their monthly expenses have climbed by more than $300.
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