help

More than half of Canadians say they need help with their retirement portfolios, finds a BMO Global Asset Management study.

Read: Canadians worry about increased expenses in retirement

When asked to identify the top retirement planning issues where they need help, 56% say they need assistance with deciding which investments best suit their needs.

Other aspects where they said they need help include:

  • understanding how their retirement portfolios will react in certain markets (53%);
  • making adjustments because of market conditions (53%);
  • ensuring portfolios are diversified (51%); and
  • determining their risk tolerance (48%).

The study also looked at where Canadians need help outside of how to go about investing their retirement savings:

  • 51% of Canadians need help with understanding how much money is needed to retire;
  • 47% need help with estate planning; and
  • 22% need help deciding when or if to downsize to a smaller home.

Also read:

Half of Canadians won’t contribute to RRSPs

How Canada’s wealthy will retire

Originally published on Advisor.ca

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