Filed Under:,

Prenuptial retirement planning not a priority for Canadians

Fewer than one-third of Canadian couples share their plans for retirement with each other before getting married or living common law, according to new research.

BMO Financial Group published this finding in summary of results from a new report, “Third Annual Valentine's Day RRSP Study.”

The report reveals that only 28 percent of Canadians say they had a detailed conversation with their spouse-to-be or partner about how they envision their retirement before getting married or living common law. And more than 20 percent of couples say that having very different views on retirement could be grounds for breaking up or divorce.

The study also finds that 86 percent of those who are married or in a serious relationship have had conversations about retirement. However, fewer than half of those couples have spoken about the following:

  • How much they have saved for retirement;
  • What their ideal retirement lifestyle looks like;
  • Where to live during retirement;
  • Whether to sell the family home/downsize.

The study also finds that, on average, Canadian couples believe that they will need approximately $1 million to fund their retirement.

Featured Video

Most Recent Videos

Behind the scenes with Vicki Gunvalson [VIDEO]


In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI


Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's


An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Protesters Disrupt WellPoint Annual Meeting


Hecklers call for more disclosures of information about political contributions.

Related resources

More Resources


Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.