Retiring Rich: Suburban Millionaire

You can retire a millionaire. Yep, that’s right, a millionaire – without winning the lottery, either. A long time ago this was a dream reserved for the few and the fortunate, but income today is different from what it was 50 years ago. It certainly isn’t a rarity for seasoned veterans to make anywhere from $60,000 to over $100,000.

Of course, not everyone will make this kind of income, and according to a recent survey by the Canadian Payroll Association, 59 per cent of Canadian workers say they would be in financial trouble if they missed even a single paycheque. Such alarming numbers suggest long-term planning and saving is even more crucial for financial security. However, with some careful financial manoeuvering, consistently putting money into savings and avoiding frivolous spending, you too can achieve millionaire status. Read more

Take Control of Your Future Today

Boomers can turn to the Bank of Montreal Financial Group for financial guidance and advice.

If you are close to retirement, the economy may have you thinking: Will I still be able to afford to retire as planned? Do I need to rethink what I want to do during my retirement? What will my retirement look like? Planning for this critical life phase can be overwhelming, and the slowly changing economy doesn’t make things any easier. While some people may have the first few years of retirement planned with leisure activities featured prominently, few will have thought beyond that. Those individuals who assume that everything will all fall into place when the time is right may want to reconsider and look towards putting together a personalized financial plan for retirement. After all, no one wants to run out of money during retirement. Read more