Canadians believe they can achieve financial independence with average savings of $846,000, according to a recent poll, though almost half are worried about market volatility.
The annual RBC Financial Independence Poll, conducted by Ipsos, found that the amount of savings needed varied across the country.
Ontario residents say they need savings of $917,000, followed by Atlantic Canada at $851,000 and Quebec at $617,000. British Columbians anticipate savings of $878,000, while Alberta residents say they need $928,000.
Saskatchewan and Manitoba respondents say they need $959,000, the most of all regions.
The survey defines financial independence as “having sufficient financial resources to cover one’s living expenses without having to depend on active employment or work to earn money to maintain their current lifestyle.”…