Canadians Say They Need $1.7 Million to Retire—A $160,000 Jump in Just One Year: Survey

Canadians Say They Need $1.7 Million to Retire—A $160,000 Jump in Just One Year: Survey
Canadian $100 bills are counted in Toronto in a file photo. The Canadian Press/Graeme Roy
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Canadians are raising their retirement goals amid economic uncertainty, but more than a third doubt they will ever achieve them, a recent survey suggests.

According to Bank of Montreal’s annual retirement survey, Canadians believe they need an average of $1.7 million to retire comfortably—up from $1.54 million in 2024, a $160,000 increase year over year.