Media Advisory for National Financial Planning Week - Making Other Plans - 2015 Edition

Financial tips & facts from RBC Financial Planning

TORONTO, Nov. 16, 2015 /CNW/ -

WHICH… financial and lifestyle goals are top of mind for Canadians?*

  1. For 48% of women: Saving for a "rainy day"
  2. For 58% of men: Saving for retirement
  3. For 44% of 18-34 year olds: Reducing or eliminating debt
  4. For 52% of not-yet-retired Boomers: Staying in their current home as long as possible
  5. For 66% of retirees: Leaving an inheritance for their children

*All Canadians aged 18 and over - from RBC 2015 Financial Independence Poll

WHO… can financial planning help?*

  1. 48% of women wish they were saving more for retirement
  2. 36% of men wish they were saving more to pay off debt
  3. 56% of 35-54 year olds wish they were saving more for retirement
  4. 83% of 18-34 year olds feel their generation has more financial pressure than their parents' generation
  5. 74% of Canadians who have a financial plan report feeling "confident/good" about their future because of that plan

* All Canadians aged 18 and over - from RBC 2015 Financial Independence Poll

WHAT… are the 5 top tips RBC Financial Planning has for Canadians to help them manage their finances?

  1. Have a financial plan to help determine the best way to reach your goals
  2. Review your financial goals regularly and revise them as your life changes (marriage, children, retirement)
  3. Pay yourself first - a simple but very effective approach to saving
  4. Reduce your most expensive debts as much and as quickly as you can
  5. Learn about tax-saving options - RRSPs, TFSAs, RESPs, RDSPs - and make regular contributions to the options that are best for you

WHO… can media talk to about financial planning advice for Canadians?

  • Richa Hingorani, Senior Manager, Financial Planning Support, RBC

WHERE… can media find more information?


For further information:

Please contact Kathy Bevan, RBC Communications, or 416-974-8820

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