Paul Martin's Business Update - February 4th

Paul Martin's Business Update - February 4th

Residents of this province are about the most practical and self-reliant in the country. This might be a by-product of our heritage, hearty prairie stock with a long tradition of making a living in what can sometimes be a harsh environment.

Further evidence of that trait, though, turned up in an interesting study of people’s savings habits conducted by BMO Bank of Montreal. It is one of the many studies at this time of year designed to remind us that we should be making contributions to RSPs and the like.

This particular survey showed Saskatchewan people ranked tops when asked if they were planning to rely on their own savings in retirement rather than the Canada Pension Plan. We came in at 95 per cent on this one, higher than any other region. Interestingly, we also ranked lowest when asked if winning a lottery formed a big part of our retirement planning. Even if we produced the lowest score on this question, however, 29 per cent of us still listed that as something we were relying upon. That’s nearly one-in-three.

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