Paul Martin’s Business Update – October 30th, 2014

Residents of this province are tough markers.

A new report that asked Canadians to grade themselves on the level of their personal financial knowledge prepared for BMO Bank of Montreal showed most of us are willing to give ourselves a passing grade. But here in Saskatchewan we are the least likely to award ourselves an A in this class. Interestingly, we are also the least likely among Canadians to give ourselves a failing mark.

Only one-in-ten of us figured we earned an A. That was the smallest percentage in the nation. We came in second among the B’s with nearly 40 per cent of us placing ourselves in this category. Only 2 per cent figured they failed the subject.

Most Canadians believe they’ll need nearly $1 million to retire but fewer than half actually have a plan to achieve that number. Obviously this is a touchy subject. Not only do we tend to avoid it, it turns out we know about healthy diets and would rather talk to our kids about the birds and the bees than money management. http://martincharlton.ca/?p=919 #wetellyourstories