Albertans reported needing an average of $928,179 to achieve financial independence, according to RBC’s 2025 Financial Independence Poll — well above the national average of $846,437 and the second-highest estimate in the country.
Only respondents in Saskatchewan and Manitoba reported a higher figure, at $958,535. In Ontario, the average was $916,714; in Quebec, it was $616,954.
Market volatility and investment performance were top concerns for 55 per cent of Albertans surveyed — the highest level reported nationally. The same concern was shared by 48 per cent of Canadians overall, according to the poll.
"While it can be difficult to provide clear answers, our advisors have experienced decades of supporting clients during market ups and downs and one thing remains constant: the value of having – and sticking to – a good financial plan with a long-term approach, to help get through any periods of turmoil," said Craig Bannon, director, regional financial planning support, RBC.
Fifty-nine per cent of Albertans said they invested in 2024, compared to 49 per cent nationally. In Alberta, 34 per cent invested in mutual funds, 28 per cent in stocks, 25 per cent in GICs or term investments, and 12 per cent in pension plans. Nine per cent said they invested in cryptocurrency.
The survey also found that 57 per cent of Albertans had a financial plan, either formal or informal. Of those, 36 per cent said the plan made them feel confident, and 40 per cent said it made them feel reassured.
"A good financial plan maps out an investment strategy for you to follow," Bannon said. "An advisor can help you stay true to your strategy, muting market noise and discussing any financial worries you may have, so you can remain focused on what truly matters: the financial goals you ultimately want your investments to achieve."
Nationally, Gen X respondents reported needing the highest amount to achieve financial independence, at $1,128,990, followed by Millennials at $945,748 and Boomers at $777,931.
Concern about market volatility was reported by 54 per cent of Millennials and 46 per cent of Gen X respondents.
The 34th annual RBC Financial Independence Poll was conducted online by Ipsos from Oct. 4 to 11, 2024, and surveyed 2,000 Canadians aged 18 and older. Results are considered accurate to within ±2.5 percentage points, 19 times out of 20.
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