News Releases

BMO brings back 2.99 per cent rate on popular 5-year fixed mortgage with maximum 25-year amortization

BMO brings back 2.99 per cent rate on popular 5-year fixed mortgage with maximum 25-year amortization

- Deadline for contributing to an RRSP is midnight on March 1

- Three-quarters of Canadians have made or plan on making a contribution before the deadline

- BMO offers multiple options for Canadians looking to contribute

- BMO media spokespeople available to provide last-minute tips on RRSPs, saving for retirement and how to create a financial plan

- A third have too many activities and too little time in which to do them

- One in three say that retirement is more expensive than they expected

- Tip to younger Canadians: start saving as much as possible from an early age to realize ideal retirement lifestyle

- Seventy-two per cent of Canadian RRSP holders say their portfolio includes mutual funds

- Mutual funds comprise almost a third of total RRSP holdings

- Canadians cite professional management and ability to diversify as top reasons for choosing mutual funds

- Investors currently favour income-generating mutual funds

- Only 28 per cent of Canadian couples say they shared their plans for retirement with each other before getting married/living common law

- Eighty-six per cent of married/common law couples have had a discussion about their retirement

- More than 20 per cent of couples feel that differing views on retirement could be grounds for break-up/divorce

- $1 million is the average amount couples feel they need to fund their retirement

- Eighty per cent of Canadians 18-34 years old are not entirely confident in their ability to save for retirement

- Many young Canadians think their parents' retirement looks better than what their own retirement will be

- More than three-quarters worry about outliving their retirement savings

- BMO: It's critical to start saving for retirement at an early age