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

News provided by

Nov 16, 2015, 10:20 ET

Financial tips & facts from RBC Financial Planning

TORONTO, Nov. 16, 2015 /CNW/ -

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

For 48% of women: Saving for a "rainy day"
For 58% of men: Saving for retirement
For 44% of 18-34 year olds: Reducing or eliminating debt
For 52% of not-yet-retired Boomers: Staying in their current home as long as possible
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?*

48% of women wish they were saving more for retirement
36% of men wish they were saving more to pay off debt
56% of 35-54 year olds wish they were saving more for retirement
83% of 18-34 year olds feel their generation has more financial pressure than their parents' generation
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?

Have a financial plan to help determine the best way to reach your goals
Review your financial goals regularly and revise them as your life changes (marriage, children, retirement)
Pay yourself first - a simple but very effective approach to saving
Reduce your most expensive debts as much and as quickly as you can
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?

WHERE… can media find more information?

Please contact Kathy Bevan, RBC Communications
[email protected] or 416-974-8820

SOURCE RBC

Please contact Kathy Bevan, RBC Communications, [email protected] or 416-974-8820