This Is How Much Money You Will Need To Retire!

It’s a lot!

Most people would like to retire by 65! Back in the day, many people were able to retire at 55! The way things are going now, most of us will never retire!

According to a report published by BMO Financial Group, it will cost the average Canadian $1.7 million to retire.

The report states that Canadians are making more of an effort to put money away into retirement savings accounts and by making contributions to RRSPs in recent years.

Despite believing they need to save more money, only 44 percent of Canadians are confident they will have enough to retire as planned.

Due to the current economic conditions almost 60% of Canadians are less confident that they will meet their retirement goals.