What Do Millennials and Boomers Have in Common? Both Cohorts Are Actively Saving for Retirement - Seite 2

• Neil Macdonald, Managing Director, Scotia Asset Management at Scotiabank

Millennials and the Boomer generation are also closely aligned when it comes to their attitudes around investing and saving; with 34% of both demographics considering themselves both savers and investors (34% of the Sandwich Generation also considered themselves both savers and investors). However, according to the Survey, while the average Canadian begins to save around the age of 26, most do not begin to invest until closer to 30, citing entering the workforce and parental encouragement as the main reasons to begin investing. 

Additional Survey Details:

• One quarter (25%) of survey respondents said that they expected to retire from the workforce between the ages of 65 and 69. 
• Another 20% said that they planned to retire between the ages of 60 and 64.
• Nearly one in ten Canadians (8%) said that they do not plan to retire from the workforce.

For more information about Scotiabank's investment options, visit a local Scotiabank branch to speak with an Advisor or visit www.scotiabank.com/investing.

About the polling data:

Scotiabank calculations are based on an online survey conducted by Harris Poll for Scotiabank among 1,026 panel members focusing on their saving and investment patterns, attitudes and behaviours. Data was collected from December 18 through December 31, 2015.

About Scotiabank:

Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 23 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 89,000 employees and assets of $920 billion (as at January 31, 2016), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). Scotiabank distributes the Bank's media releases using Marketwired. For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

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