2 h. ago
Ontario residents say they'd need to save staggering amounts to be independent
Ontario's high cost of living means that many residents in the province will need to dig deep to achieve financial independence in the years to come.Economic uncertainty in unprecedented times has Canadians worried about their savings, and many across the country feel they will need to save up sums to the tune of $1 million to feel secure.Findings from the latest RBC Financial Independence Poll were shared on Wednesday, revealing how the current economic climate is affecting Canadians' savings goals.The report found that Canadians estimate they will need approximately $846,437 to ensure their future financial independence, a number that soars much higher among Ontario residents.People residing in Canada's most populous province estimate they will need to save up an average of $916,714 to guarantee their financial independence.It's a sizeable sum, though not entirely surprising when considering the average home price in Ontario is around $834,000 as of February 2025.Despite Onta...
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