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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.

Featured resources

Household debt in Canada – the good, the bad, and the ugly. - September 2015

Interest rates in Canada have been deliberately kept low in an effort to support the economy and stimulate spending. True to their nature, Canadians have complied in droves and have embraced credit at unprecedented rates. Fortunately, it seems Canadians are beginning to reduce the amount of debt that negatively affects their personal financial situation and replace these so-called bad debts with debts that strengthen their financial position.

As you approach the age of wisdom, who will catch you if you fall? - August 2015

As the population of Canada ages, the demands placed on the health care system and the need for long-term care options continue to rise. The question of whether Canadians have adequately prepared for their future health and long-term care needs will be answered in the coming years as a wave of baby boomers retire.

Insuring for a financially secure future - July 2015

Life has a way of throwing curveballs. Unforeseen events often place a tremendous amount of financial stress on affected individuals, and on their families, too. But are Canadians well prepared for the unexpected? This report delves into appropriate types of insurance coverage for every stage of life. It also dispels some of the common misconceptions preventing Canadians, young and old, from purchasing adequate insurance and offers advice on how to ensure peace of mind throughout life's precarious journey.

Women in Wealth: A financial golden age has arrived - March 2015

Women have made incredible strides, both professionally and personally, in the last half-century. They are better educated, have greater responsibility in the corporate world and are leaders in many professions. Despite the professional and financial successes that women in the workplace have earned in recent generations, they are still facing personal issues and unresolved challenges.

Therapeutic Substitution: Provincial government changes reformulate the pharmacy business - February 2015

In Canada, the world of pharmacy is rapidly changing, requiring pharmacy owners and practitioners to evolve and adapt their practice to service the ever-growing healthcare needs of Canadians. And while Canada's broader pharmacy community has stepped up to provide solutions that will improve patient care and unlock cost savings for our healthcare system, the delivery of pharmacy services and the scope of services offered will pose challenges for pharmacy owners on all fronts: personally, financially, and entrepreneurially. The following conversation between two pharmacists illustrates a typical scenario that may play out for a pharmacy owner.

Retirement planning: how do your retirement plans measure up? - February 2015

With a better understanding of the current retirement landscape – including the lessons learned from what recent retirees did and didn't do upon retiring – those who are near retirement should be able to prepare prudently for their future. This report identifies how Canadians are managing retirement planning, by understanding how they were thinking and feeling before and after the 2008 financial crisis, and then most recently about their retirement plans.

Entrepreneurs: Definitely not your ordinary business owner - October 2014

Entrepreneurs will start with an idea; they will nurture and grow that idea into a viable business. While there will be stresses and successes along the way, their business will thrive with careful planning and strategic partnerships. They will surround themselves with people who can help them grow the business and transition from it to secure their future and the well-being of their family.

Finding the path to financial prosperity for newcomers to Canada - October 2014

Many immigrants come to Canada seeking a better life for themselves, their children and extended members of their families. Many have found that their own hard work has set the foundation from which their children are able to build even greater success. Some of the traits that help to make immigrants to Canada successful in achieving their goals are their ambition, perseverance and ability to overcome challenges.

Download the report (1203 KB - PDF)

Living to 100: The four keys to longevity - July 2014

By 2061, it is estimated that there will be more than 78 thousand centenarians living in Canada. This is a huge increase from about six thousand reported in the 2011 Census. In the U.S., more than 1 million centenarians by 2050 are expected. For most people, planning for retirement or their later years is focused mostly on finances and how they will spend their time. However, ensuring they spend those years in good health is something that many overlook. The times are certainly changing, with medical advances and technological breakthroughs, planning for retirement and living longer needs to be more holistic.

Taking the rights and opportunities you have now more seriously - June 2014

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.

Download the report (106 KB - PDF)

Sandwich Generation - May 2014

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.

Download the report (312 KB - PDF)

Rethinking Disability – Planning for Financial Well-Being - April 2014

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.

Mind Games: What behavioural finance can teach you about investing - March 2014

When it comes to investing, rational choices don't always apply. What investors know, and what they actually do are often very different.

Download the report (224 KB - PDF)

Wealth Generation: The Financial Challenges for Generations X & Y - January 2014

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.

Enhancing Retirement Planning with ETFs - October 2013

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.

Download the report (446 KB - PDF)

Are your Business and Personal Finances on Solid Ground? - October 2013

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 throughout the stages of the business life cycle and their own personal life cycle.

What are you leaving behind? Family conflict or a memorable legacy! - July 2013

The biggest life events that can derail your financial plan - May 2013

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 Strategies: Student tuition and debt on the rise: RESPs and beyond - March 2013

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.

Download the report (1 MB - PDF)

Retirement Institute Report: Home sweet home or retirement nest egg - October 2012

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.

Download the report (420 KB - PDF)

Retirement strategies: What are your options in volatile markets? - August 2012

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.

Download the article (198 KB - PDF)

Broadening the approach to preparing for retirement - July 2012

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.

Download the report (600 KB - PDF)

Estate planning in the 21st century: New considerations in a changing society - April 2012

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.

Download the report (708 KB - PDF)

Perfecting the workplace pension: the quest continues - January 2012

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.

Download the report (831 KB - PDF)

Mind your taxes in retirement - October 2011

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.

Download the report (325 KB - PDF)

Where do Canadians plan to retire, and why? - October 2011

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.

Download the report (455 KB - PDF)

Financial Decision-making: Who Will Manage Your Money When You Can't? - July 2011

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.

Divergent paths to retirement: How men and women plan differently - April 2011

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.

Download the report (604 KB - PDF)

Retirement Income Planning: Can we have our cake and eat it too? - February 2011

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.

Download the report (749 KB - PDF)

Retirement planning: When to retire: Age matters - October 2010

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.

Download the report (129 KB - PDF)

Retirement planning: Can I get back to you on that? - July 2010

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.

Download the report (129 KB - PDF)

Proposals to improve the flexibility of RRSPs & RRIFs - April 2010

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.

Download the report (194 KB - PDF)

Saving for Retirement: One size does not fit all - February 2010

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 - November 2009

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.

Retirement strategies: Small business ownership - October 2009

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.

Download the report (113 KB - PDF)

Leaving an inheritance: What will future inheritances look like? - July 2009

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.

Download the report (229 KB - PDF)

Your health: Understanding and managing stress - June 2009

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.

Read the summary (98 KB - PDF)

Working longer: Should Boomers retire later due to market uncertainty? - April 2009

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.

Download the report (1.09 MB - PDF)

Single in retirement: What retirement challenges do single Boomers face? - January 2009

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.

Download the report (192 KB - PDF)

Caregiving: Exploring the costs and benefits of caregiving - July 2008

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.

Download the article (102 KB - PDF)

Retirement strategies: Assuming more responsibility for your retirement - April 2008

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.

Download the article (103 KB - PDF)

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