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BMO Survey: Majority of Canadians Say Rising Costs Negatively Affecting Retirement Plans
Inflation isn't just driving up everyday costs - it's eroding Canadians' confidence in their retirement plans, according to the latest BMO Retirement Survey. Nearly three quarters (74%) say rising prices have heightened concerns about having enough savings to support them in their 'golden years', while two thirds (66%) report inflation is already affecting their ability to save and invest for retirement, according to the data. The findings underscore growing uncertainty as Canadians struggle to
About this update from Bank Of Montreal
[{"type":"list","items":[{"val":[{"type":"text","content":"74% say rising inflation has increased concerns about having enough money saved for retirement","length":94,"tagName":"p"}]},{"val":[{"type":"text","content":"Three-in-ten (30%) do not know how long their money will last in retirement ","length":75,"tagName":"p"}]},{"val":[{"type":"text","content":"15% of Canadians planning to retire outside of Canada, with majority expecting a lower cost of living","length":101,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":270,"olType":false},{"type":"text","content":"TORONTO, Feb. 17, 2026 /CNW/ - Inflation isn't just driving up everyday costs - it's eroding Canadians' confidence in their retirement plans, according to the latest BMO Retirement Survey. Nearly three quarters (74%) say rising prices have heightened concerns about having enough savings to support them in their 'golden years', while two thirds (66%) report inflation is already affecting their ability to save and invest for retirement, according to the data. The findings underscore growing uncertainty as Canadians struggle to balance immediate expenses with long-term financial security.","length":612,"tagName":"p"},{"type":"text","content":""Inflation is a threat to retirement savings, but it doesn't have to derail our clients' plans," said Brent Joyce, Chief Investment Strategist, BMO Private Wealth. "The key is to stay invested and take a proactive approach. By incorporating inflation assumptions into comprehensive financial plans, we help Canadians understand how their portfolios can perform over decades - not just years. With disciplined investing and expert guidance, clients can ensure their money grows faster than inflation and supports the lifestyle they've envisioned."","length":578,"tagName":"p"},{"type":"text","content":"Putting A Dollar Figure on Household Inflation","length":46,"tagName":"p"},{"type":"text","content":"Among respondents who said inflation was having a negative impact on their finances, the survey asked them to estimate how much extra they were spending on necessities. Nearly half (47%) reported an additional $100 to $300 per month, while about one third (34%) said their monthly expenses have increased by more than $300.","length":323,"tagName":"p"},{"type":"text","content":"To manage these costs, they...