BMO Wealth Institute
The BMO Wealth Institute provides insights and strategies around wealth planning and financial decisions to better prepare you for a confident financial future. BMO's team of wealth planning professionals have deep expertise around all aspects of wealth planning including retirement, estate, tax and insurance. Email the Institute with your questions and comments.
Special Report:Taking the rights and opportunities you have now more seriously
Anyone planning their financial future and setting their financial and estate planning goals has a lot to consider. Members of the lesbian, gay, bisexual, transgender or queer (LGBTQ) community may face additional challenges that make careful planning even more important.
Special Report:Sandwich Generation
With life expectancy in Canada increasing, seniors are living longer, and at the same time many couples are having children later. This combination of factors is making life challenging – and costly – for those caught in the Sandwich Generation.
Report:Rethinking Disability – Planning for Financial Well-Being
A disability can affect a family in so many ways: physically, emotionally and financially. Dealing with these pressures can put added stress on the financial well-being of an individual, their family and their caregivers. With the incidence of disability rising as our population ages, disability should be a concern and a shared responsibility for all.
Special Report:Mind Games: What behavioural finance can teach you about investing
When it comes to investing, rational choices don't always apply. What investors know, and what they actually do are often very different.
Report:Wealth Generation: The Financial Challenges for Generations X & Y
Members of generations X & Y have financial priorities that include home ownership, funding post-secondary education and saving and investing for retirement. Achieving these goals requires a different approach to developing and implementing a financial plan that resonates with generations X & Y.
Special Report:Enhancing Retirement Planning with ETFs
A financial plan is essential to retirement planning, but there are still many challenges when executing a plan. Exchange traded funds offer features that can address a number of these challenges. This report looks at key considerations in implementing a financial plan and how investment products like ETFs can help investors get to their goal faster or have their money last longer.
Report:Are your Business and Personal Finances on Solid Ground?
This report focuses on opportunities and ideas to better integrate a business owner’s personal goals with the needs of their business as they journey though the stages of the business life cycle and their own personal life cycle.
Report:What are you leaving behind? Family conflict or a memorable legacy!
This report introduces the enhanced estate planning approach and reviews the essential components of an estate plan.
- Download the report (609 KB - PDF)
- Estate Planning Video
- Client Story Jeff and Lisa
- Client Story Susan and Victoria
- Wealth Planning Video Series
- Age of Majority Video
- Difference between Beneficiaries and Heirs Video
- Difference between Equality and Equity Video
- Mirror, Mutual and Multiple Wills Video
- Difference between Per Capita and Per Stirpes Video
- Difference between Joint Tenancy with Right of Survivorship and Co Tenancy Video
Report:The biggest life events that can derail your financial plan
The financial impacts of an unexpected major life event can be catastrophic and derail your financial plan. This report explores ways that families can prepare and plan for potential risks and create a more secure financial position.
Education Savings StrategiesStudent tuition and debt on the rise: RESPs and beyond
Post-secondary costs have been increasing steadily over the past decade. This report explores the strategies available to create a customized education savings plan that include options beyond RESP.
Retirement Institute ReportHome sweet home or retirement nest egg
Many Canadians are not confident that they will save enough for retirement; as a result, they may plan to use the sale of their home to help fund it. This report examines the relationship between their readiness for retirement and the challenges home ownership may pose on boomers retirement.
Retirement strategies:What are your options in volatile markets?
Whether you are already in, or close to retirement, the current market downturn has given some of us for concern, especially when it comes to retirement plans. Learn how to make sense of your retirement and investment options during these uncertain economic times.
Report:Broadening the approach to preparing for retirement
This report explores the attitudes and behaviours (in both boomers and the younger generations) towards the involvement in the retirement planning process and the degree to which these non-financial aspects impact an individual's preparedness for retirement.
Report:Estate planning in the 21st century: New considerations in a changing society
While the basics of estate planning have been the same for centuries, the traditional approach needs to be broadened to reflect new realities. This report takes a closer look at three trends and suggests way in which individuals can adapt their estate plans to reflect these developments.
Report:Perfecting the workplace pension: the quest continues
Workplace pensions are shifting from Defined Benefit to Defined Contribution plans, providing contributors more flexibility and control. However, there are key behaviours that keep many contributors from maximizing the effectiveness of their workplace pension. This report from the BMO Retirement Institute examines those behaviours and provides valuable advice on getting the most from your workplace pension.
Report:Mind your taxes in retirement
Achieving tax-efficiency in retirement requires a long-term vision, and goes beyond simply saving for retirement. This report outlines BMO Retirement Institute's recommendations for achieving greater tax efficiency, resulting in better after-tax income and a better lifestyle.
Special Report:Where do Canadians plan to retire, and why?
This Special Report explains that, while Canadians often talk about a change of scenery during retirement, the reality is very different. In fact, Canadians prefer to stay close to home.
Report:Financial Decision-making: Who Will Manage Your Money When You Can't?
As we age, our health can pose many risks to our retirement plans. This report outlines BMO Retirement Institute's recommendations for delegating financial affairs in cautious preparation for a possible decline in cognitive abilities.
- Download the report (636 KB - PDF)
- Video: Introduction to the report
- Video: Creating a power of attorney
- Video: Medical view
- Video: Legal view
- Video: Assessing mental capacity
Divergent paths to retirement:How men and women plan differently
Despite being less financially prepared for retirement, women are more likely to enjoy their retirement than men. This report explores the behavioural differences exhibited by women and men and how it impacts their efforts to plan for and live in retirement.
Retirement Income Planning:Can we have our cake and eat it too?
There is no perfect formula to retirement income planning. This report, identifies what Canadians believe are important elements of a retirement income plan and examines why it will be difficult for most to attain all of these elements without making sacrifices.
Retirement planning:When to retire: Age matters
When you retire may mean the difference between having a retirement nest egg that is more than enough, or running out of money. This report explores the impact that different retirement ages will have on pensions and personal savings.
Retirement planning:Can I get back to you on that?
While Canadians know that saving for retirement is important, many tend to procrastinate. This report explores the psychological disconnect preventing Canadians from effective retirement planning.
Report:Proposals to improve the flexibility of RRSPs & RRIFs
Recently, the Federal Government has been reviewing the adequacy of Canada's pension regime. This report outlines BMO Retirement Institute's recommendations which would provide additional flexibility to RRSPs and RRIFs.
Special Report:Saving for Retirement: One size does not fit all.
When it comes to retirement savings, theories and assumptions abound. This special report examines six common theories that could change your retirement planning and highlights what you need to consider when determining how much you will need to save for retirement.
The evolution of giving:From charity to philanthropy
Charitable giving has become increasingly strategic in nature, but few plan in advance or consult a financial advisor when it comes to gift planning. This report examines boomers' views on giving and discusses the importance of planning to maximize on donations.
- Download the report (189 KB - PDF)
- BMO Nesbitt Burns Charitable Giving Program
- BMO Harris Private Banking Philanthropic Services
Retirement strategies:Small business ownership
Half of Canadian small business owners are planning to retire in the next ten years and retirement often means closing down. This report examines factors that will reduce the number of closures upon retirement and discusses the importance of succession planning.
Leaving an inheritance:What will future inheritances look like?
An enormous transfer of wealth from seniors to Boomers will occur over the next few decades. Explore the inheritance and estate planning issues that are specific to Boomers who are either expecting to receive an inheritance and/or considering leaving a legacy.
Your health:Understanding and managing stress
What is stress? How can you manage it? Tina Di Vito, Director of BMO Retirement Institute, and Dr. Michael Baker, Professor of Medicine at the University of Toronto and member of the BMO Advisory Council on Retirement, explore stress and its potential impact.
Working longer:Should Boomers retire later due to market uncertainty?
Boomers used to think that their decision to work longer had more to do with self-fulfillment than financial preservation. But with the recent market uncertainty, some Boomers are now opting to retire later to maintain a steady income stream. Explore your options.
Single in retirement:What retirement challenges do single Boomers face?
Whether by divorce, death, or never marrying in the first place, the odds of being single at some point during retirement are high. Being single in retirement presents a unique set of financial, emotional and planning challenges for Boomers.
Caregiving:Exploring the costs and benefits of caregiving
Many Boomers are thrown into the role of a caregiver unexpectedly. Get a better understanding of the important considerations, cost realities, and hidden benefits of caregiving that Boomers may face.
Retirement strategies:Assuming more responsibility for your retirement
With longer life expectancies and fewer employer-defined benefit pension plans, Boomers will have to shoulder more personal responsibility for managing their finances in retirement than previous generations. Learn about various income strategies and investment products.