Canadians are feeling negative about their investments and retirement plans, and women are less confident about retirement than men. Read on
“As the cost of inflation and the financial impacts of the pandemic have significantly affected many women, it’s understandable that they are feeling the need to rebuild their savings andat the age they had planned,” Gayle Ramsay, head of everyday banking and customer growth at BMO, said in a press release.
“Financial planning and financial literacy are imperative when navigating finances to ensure customers are making real financial progress,” Ramsay said. “With most women reporting they have no financial plan in place, they can start to alleviate their anxiety and take control of their finances by evaluating their budgets, adjusting spending habits accordingly and committing to a savings and retirement plan.
One reason is the financial literacy gender gap between men and women that stems from childhood upbringing.
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