RY Royal Bank of Canada

Making Other Plans – 2017 Edition for Ontario Media

TORONTO, Nov. 16, 2017 /CNW/ -

Financial tips & facts from RBC Financial Planning

WHICH… financial goals are top of mind for consumers in Ontario?*

1. Saving for retirement – 53% (vs. 52% nationally)
   
   
2. Saving for a rainy day – 48% (vs. 49% nationally)
   
   
3. Reducing or eliminating debt – 42% (matching 42% nationally)

WHO… can financial planning help in Ontario?*

1. 75% who worry about saving now vs. saving for the future (vs. 76% nationally)
   
   
2. 52% who have only thought "a little" about how to be financially prepared for unexpected life events (matching 52% nationally)
   
   
3. 57% who don't yet have a financial plan (vs. 56% nationally)
   
   
4. 55% of business owners who have not yet planned what they would do if they aren't able to run their business as long as they want to (vs. 51% nationally)
   
   
5. 48% who worry if they'll have enough savings for retirement (vs. 46% nationally)
   
   
6. 31% who haven't yet started saving for retirement (vs. 29% nationally)

WHAT… are the 3 top tips RBC Financial Planning has for consumers in Ontario to help them manage their finances?

1. Have a formal financial plan that you review regularly as your life changes, to help you stay on track to reach your goals.
   
   
2. Prioritize your debt payments by reducing your high interest debts as much and as quickly as you can.
   
   
3. Pay yourself first – a simple but very effective approach to saving, particularly when you set up automatic savings.

WHO… can media talk to about financial planning advice for consumers in Ontario?

• Sandra Abdool, Regional Financial Planning Consultant, RBC – Burlington ON

WHERE…can media in Ontario find more information? 

• Please contact Kathy Bevan, RBC Corporate Communications
  kathy.bevan@rbc.com or 416-974-8822

SOURCE RBC Royal Bank