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Keep up-to-date on the latest domestic and global market movements. Our experts provide in-depth research and analysis to help you understand the economic conditions, factors and trends that shape investment opportunities.

Wealth Insights

Volume 2, Issue 1
Focusing on Transfer of Wealth

Over the next decade, $1.1 trillion in wealth will change hands during the largest 10-year wealth transfer in Canadian history. We’re not only seeing a shift in the ownership of funds, but the process for transferring wealth is also evolving as money moves from one generation to the next. Navigating this can be difficult and will require families to communicate and plan together to prepare heirs for their future inheritance. There is a tremendous opportunity for individuals or families to think more proactively about legacy and estate planning for future generations.

Wealth Connects the Generations

This magazine focuses on issues that impact the successful transfer of wealth from generation to generation.

 Download the magazine (5.8 MB - PDF)


Volume 1, Issues 1 and 2
Focusing on Business Owners

Business owners invest so much into their businesses – emotionally, physically, and financially. With so much at stake, it is important that the business is set up to succeed. This two-part series focuses on key considerations that relate with the life cycle of the business and its owner. The magazines highlight several topics, strategies, and solutions for the owner to consider when balancing personal wealth management with the needs of their business ventures.

Key considerations for business owners

Issue 1 focuses primarily on topics for the business owner’s consideration to help achieve their personal and business goals.

 Download the magazine (1.8 MB - PDF)

Issue 1

Key considerations for your business

Issue 2 focuses mainly on topics that relate to the business itself to help the owner ensure that the business can adapt to change and continue building towards sustainable success.

 Download the magazine (2.4 MB - PDF)

Issue 2

Wealth Reports

Our reports provide insights and strategies around wealth planning to help prepare you for a confident financial future.

A sudden windfall. A blessing, not a burden. - December 2018

A sudden windfall can be a welcome surprise, but the pressure of managing and dealing with it can be an unforeseen burden.

 Download the report (926 KB - PDF)      
 Download the infographic (754 KB - PDF)

Plan for the future

Over time, the labour market has shifted from one characterized by stable or permanent employment to a "gig economy" of temporary or contracted employment, where an on-demand, freelance or contingent workforce is becoming the norm. A gig can be defined as "any job, especially one of short or uncertain duration."

Rather than stand in the way of the coming wave of millennials and the changes that are coming, many of which are led by incredible advances in technology, we should be looking forward and embracing the many positives to come.

They say it’s better to give than to receive. Judging by their actions, Canadians are big believers in that concept, with an overwhelming majority making financial donations to worthy causes. Not only does it make them feel good, it may also yield favourable tax incentives. Nevertheless, charitable giving in Canada is waning.

Fluctuating profitability affects business valuations and the funds available to support the retirement lifestyle of business owners.

As you navigate along the roadmap of your life, the amount of financial resources available to you to help you go where you want and do what you want will vary. Your success in some part will depend on how well you adapt financially to the obstacles you encounter along the way as you balance your decisions between saving, investing, borrowing, and spending.

The perception of wealth influences how families use their financial resources to achieve personal and family goals. The Family Bank is seen as an important factor in helping meet these goals. These days, many parents feel they are on track to being financially comfortable but worry that their children are not going to attain the same level of comfort just on their own resources.

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.

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.

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.

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)

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)

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)

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.

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.

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.

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.

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)

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)

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)

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.

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)

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)

Grow your wealth

Innovation that helps create wealth for Canadian business owners only requires business leadership and motivation, a supportive circle of family, associates and employees, and a desire to improve.

Investors are often subject to behavioural biases that can lead to flawed decisions and choices. Being aware of these biases – and understanding how they arise from your background and life experiences – can help you make better investing decisions and achieve your financial goals.

Entrepreneurs drive the economy by creating products, services and – most importantly – jobs. Self-employment isn’t for the faint of heart, but the nature of those who decide to go it alone may surprise you.

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.

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)

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.

Protect your assets

A sudden windfall can be a welcome surprise, but the pressure of managing and dealing with it can be an unforeseen burden.

Today, the modern family comes in many different shapes and sizes; this diversity is having an impact on family relationships and the way families interact when addressing estate planning

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.

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)

Transition life stages

Living longer does not necessarily mean that Canadians will be unable to afford to retire. However, it does mean making thoughtful and effective financial decisions about your retirement and estate planning goals.

Life is all about transitions, like graduation, starting a family, changing jobs, moving to a new home, raising a family, and eventually, retirement. While many of us successfully negotiate these transitions, retirement often poses the greatest challenge.

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.

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.

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.

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)

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)

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)

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)

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)

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.

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)

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)

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)

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)

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)

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)

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)

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)

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)

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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