"Just like gardening, the keys to managing bountiful retirement savings are regular maintenance, patience and some expert guidance," said Linda Knight, President and Chief Operating Officer, BMO Mutual Funds. "Many Canadians perceive saving for their retirement to be an intimidating process, but in reality it doesn't have to be that way."
Canadian boomers can especially relate to the fall harvest and is a fitting investment analogy as they approach a new 'season' in their lives – retirement. Just as fruits and vegetables from the garden can be preserved and enjoyed at a later time when supplies are less plentiful, boomers need to create a financial strategy to safeguard their retirement savings and help them fulfill the dreams of that phase of their life.
According to Knight there are many investment tools available to Canadians today to help them grow their retirement savings. For example, the new BMO LifeStage Plus Funds provide target end dates and a Guaranteed Maturity Amount, which help investors take advantage of market growth opportunities, automatically become more conservative as the target date approaches, and protects not only the original amount invested but also the growth in the Funds if an investor remains invested in the Funds until the target (fixed) end date.
By working with a trusted financial planner, individuals can evaluate their long-term investing goals and create a personalized financial plan. Best of all, meeting with a financial professional doesn't have to be costly. Professionals are available, at no cost, at all local BMO Bank of Montreal branches.
Visit www.bmo.com for more information.
Source: www.newscanada.com
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