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Canadians don't want to retire to far-off destinations

VANCOUVER (NEWS1130) – Home is indeed where the heart is for Canadian baby boomers. A new survey from BMO has found they don’t plan on going too far during their golden years.

Most Canadians over the age of 45 plan to stay in Canada after they retire and Tina Di Vito with BMO says many plan on staying close to their home province. “A couple of factors that were key [like] proximity to family members. But other things are also really important, such as health facilities.”

The survey also found Victoria remains the retirement capital of Canada, with 15 per cent of boomers saying they would love to retire there.

Only five per cent plan to relocate to the United States, two per cent to Europe, and one per cent to Mexico, South America, and Asia.