BMO Retirement Tip of the Day: Get Personal-Online Retirement Savings Calculators Do Not Tell the Whole Story

(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 02/29/12 -- As the February 29th deadline approaches to make a contribution to a Registered Retirement Savings Plan (RRSP) and as part of its ongoing commitment to improving financial literacy, BMO Financial Group will be providing daily retirement tips during the month of February from BMO Retirement Institute Head Tina Di Vito's new book .

Tip Number 52:

Online calculators do not tell you the whole story

There are a variety of online financial calculators available today that can be useful tools to get a quick idea of whether or not you are on the right track to your retirement savings goal. Many of them provide you with a snapshot of how much your savings will grow over a number of years, and how much you should be saving to retire at your preferred time.

Calculators are simple projections based on a series of pre-set inputs and assumptions. They can give you misleading answers if you over- or under-estimate your investment returns over time.

What calculators do not offer you is personal advice. They cannot advise on whether your investments are appropriate for you, whether you have an effective estate plan, or who will care for you if you become disabled.

If you would like a realistic, personalized retirement plan that takes into account both your financial and personal goals, then consider hiring a professional financial advisor.

For more information on retirement: .

Get the latest BMO press releases via Twitter by following (at)BMOmedia.



Contacts:
For all news media enquiries please contact:
Rachael McKay, Toronto
416-867-3996


Sarah Bensadoun, Montreal
514-877-8224


Laurie Grant, Vancouver
604-665-7596

Weitere Infos zu dieser Pressemeldung:

Themen in dieser Pressemitteilung:


Unternehmensinformation / Kurzprofil:
Bereitgestellt von Benutzer: MARKETWIRE
Datum: 29.02.2012 - 13:00 Uhr
Sprache: Deutsch
News-ID 119948
Anzahl Zeichen: 0

contact information:
Town:

TORONTO, ONTARIO

Kategorie:

Commercial & Investment Banking

Diese Pressemitteilung wurde bisher 195 mal aufgerufen.


Die Pressemitteilung mit dem Titel:
"BMO Retirement Tip of the Day: Get Personal-Online Retirement Savings Calculators Do Not Tell the Whole Story"
steht unter der journalistisch-redaktionellen Verantwortung von

BMO Financial Group and BMO Bank of Montreal (Nachricht senden)

Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).

Half of Canadian Entrepreneurs Project Continued Growth in 2017: BMO Small Busin ...

TORONTO, ONTARIO -- (Marketwired) -- 10/13/16 -- BMO's annual small business report, released today, reveals that, amid regionally diverse economies, Canadian entrepreneurs of small and micro businesses are cautiously optimistic about the futu ...

BMO Blue Book: Provincial Drivers Shift But National Landscape Positioned for Co ...

TORONTO, ONTARIO -- (Marketwired) -- 10/06/16 -- Canada's strong seven provinces are on pace to balance the effects of a disappointing year in Alberta, Saskatchewan and Newfoundland & Labrador, according to forecasts from the 2016 BMO Blue ...

BMO Blue Book: Newfoundland & Labrador Faces Challenges, But Longer Term Pro ...

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR -- (Marketwired) -- 10/06/16 -- The economy is expected to contract in Newfoundland & Labrador this year, but growth will follow in 2017, according to the BMO Blue Book released today by BMO Capital Ma ...

Alle Meldungen von BMO Financial Group and BMO Bank of Montreal