News Releases
Interview Opportunity
| WHAT: |
According to previous BMO Financial Group/Ipsos Reid studies, 69 per cent of Albertan baby boomers would consider leaving their region when they retire due to the cost of living, higher than fellow boomers in any other part of Canada.* Seven out of 10 Albertans indicated they would be willing to make sacrifices in order to retire. Of those, the majority (56%) are willing to downsize or refinance their homes to maintain a comfortable lifestyle in their current locale. Like their Canadian counterparts, many Albertans are not well prepared to fund their version of retirement. Thirty-four per cent of Alberta boomers said they don't have RSPs, in contrast to 30 per cent of national boomers. In addition, many Alberta boomers said they are spending more time planning other activities than planning for their retirement. Forty-six per cent said they spend more time planning exercise, 44 per cent on diet, 27 per cent on car maintenance, 37 per cent on home renovations and 40 per cent spend more time planning travel than their retirement. |
| WHO: | BMO Financial Group
has local experts who can provide tips to help Albertans build their
retirement plans. They can discuss:
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*Based on online surveys conducted by Ipsos Reid for BMO Financial Group in 2006 among a randomly selected sample of more than 1,000 respondents aged 45-60. The first survey included 108 respondents in Alberta, while the second included 119. With samples of this size, the margins of error would be approximately 9.4% and 9.0% respectively, 19 times out of 20.
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