Today is your day Boomer! Ready to retire Boomers? I have good news and bad news. According to a new study done by BMO, many Canadians plan to retire in their 60's and the average age goal is 62. Remember, your OAS kicks in at age 65 and you can get your CPP as early as 60. Now the bad news, most Canadians now think you will need 1.7 million dollars in investments to retire. That is up a whopping 20% since the last study two years ago. Of course, the current economic situation and high inflation are main reasons. But let's shift back to the good again. Caroline Dabu of BMO says that new number is likely too high: "certainly when we're working with clients, we find that many overestimate the number that they need to retire. It really does have to be taken at an individual level, because circumstances are very different ... But $1.7 million, I would say, is high." Hmmmm, whatever the number is, it keeps changing and I'm sure that is troubling to many Boomers thinking about retirement. All I know is that costs for practically everything keep going up and up...

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