Canadians' Net Worth Climbs to $5.6 trillion

    
    BMO Harris Private Banking Expert gives perspective on what's behind the
    increase and if it's just a temporary blip
    

TORONTO , Sept. 16 /CNW/ -

What:

A new report from Statistics Canada shows that Canadians are wealthier, as household net worth(i) grew by $141 billion to $5.6 trillion during the second quarter of 2009.

While the gains mainly came from a more robust stock market, Statistics Canada also noted that Canadians took on more debt during the April-June time frame than during previous quarters.

With the recession now coming to an end, these new statistics raise questions including:

    
    -   Is this the beginning of sunnier times for investors, or will the
        upswing be short-lived?

    -   What investment sectors have led the way for Canadians to increase
        their net worth and which ones will outperform in 2010?

    -   With interest rates continuing to hover near record lows, is now a
        good time to borrow and invest as part of a longer term strategy?

    -   How can investors protect the gains they have made during 2009?
    

Who:

Paul Taylor , MBA, CFA - Senior Vice President & Chief Investment Officer, BMO Harris Private Banking.

Mr. Taylor is responsible for the management of over $11 billion of assets for BMO Harris Private Banking. He is a regular commentator on Canada's Business News Network and the Canadian Broadcasting Corporation's Nightly Business Report.

    
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    (i) Net worth includes Canadians' household assets minus their
        liabilities.
    

For further information: For media interviews, please contact: Martha McInnis, Toronto, [email protected], [phone]