BMO Real Estate Partners

New BMO eclipse rise Visa Credit Card Helps Gen Z and Millennials Build Good Financial Habits

Retrieved on:

Wednesday, December 13, 2023

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TORONTO, Dec. 13, 2023 /CNW/ - BMO today announced the launch of its new BMO eclipse rise Visa card – a new, no-annual-fee credit card with no minimum income requirement that is ideal for Gen Z and Millennials as they look to build their financial literacy.

Key Points:

TORONTO, Dec. 13, 2023 /CNW/ - BMO today announced the launch of its new BMO eclipse rise Visa card – a new, no-annual-fee credit card with no minimum income requirement that is ideal for Gen Z and Millennials as they look to build their financial literacy.
The new card also rewards cardholders for establishing good financial habits, helping young Canadians make real financial progress as their financial needs and priorities evolve.
The new BMO eclipse rise Visa card offers a flexible, personalized card that encourages good financial habits with tailored rewards, enabling customers to make progress toward their financial goals."
To learn more about the new BMO eclipse rise Visa card and other BMO eclipse Visa credit cards, please visit: www.bmo.com/rise .

Nearly a Third of Canadians Plan to Cut Spending in 2024 Over Cost of Living Concerns - BMO Survey

Retrieved on:

Monday, December 11, 2023

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42 per cent plan on changing their financial New Year's resolutions due to cost of living concerns.

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42 per cent plan on changing their financial New Year's resolutions due to cost of living concerns.
TORONTO, Dec. 11, 2023 /CNW/ - A special report from the BMO Real Financial Progress Index reveals nearly a third (30 per cent) of Canadians plan to cut back on spending for 2024 amid growing concerns about the cost of living and economic uncertainty.
Given concerns about the rising cost of living, 42 per cent of Canadians plan on changing their financial New Year's resolutions, including creating financial goals and/or a budget for 2024 (17 per cent).
Plans to establish good financial habits in 2024 come as Canadians reevaluate their holiday spending amid concerns about the high cost of living and the economy.

BMO Commits $2 Million to Help Households in Underserved California Communities Make Progress for Homeownership

Retrieved on:

Wednesday, November 29, 2023

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'Welcome Home Grant' program expanded to Los Angeles, San Francisco, Oakland, San Diego, San Jose, Anaheim, and Riverside

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'Welcome Home Grant' program expanded to Los Angeles, San Francisco, Oakland, San Diego, San Jose, Anaheim, and Riverside
LOS ANGELES, Nov. 29, 2023 /PRNewswire/ - BMO today announced a $2 million commitment to expand its Welcome Home Grant program, helping households in underserved California communities make progress for homeownership.
The program, which launched in March 2022 , is available in seven other markets including Chicago, Phoenix, Milwaukee and Minneapolis.
"BMO is committed to helping eligible homebuyers make real financial progress through homeownership, which has historically been an important element of getting ahead financially," said Eric Smith, Vice Chair, BMO.
"This program expansion allows BMO to help even more homebuyers in underserved communities across the U.S., assisting individuals and families with a critical boost to help achieve their dream of homeownership," said Brenda J. Rodriguez, Executive Director of Affordable Housing Clearinghouse in California.

BMO Real Financial Progress Index: 74 Percent of Americans Buying Fewer Holiday Gifts Due to Inflation, yet 63 Percent Still Plan to Give Back to Charitable Causes

Retrieved on:

Wednesday, November 8, 2023

Three fourths (74 percent) of Americans say inflation and rising costs of living will cause them to buy fewer holiday gifts.

Key Points:

Three fourths (74 percent) of Americans say inflation and rising costs of living will cause them to buy fewer holiday gifts.
Despite spending less on gifts, two in three Americans (63 percent) plan to give back to charitable causes.
In fact, 82 percent of Americans say their overall financial situation is causing anxiety, with only 6 percent planning to increase what they typically spend and buy more gifts.
Specifically, Americans say inflation and rising costs of living are causing them to adjust holiday shopping plans this year.

78 Per Cent of Canadians Plan to Cut Back on Holiday Spending, but a Third Will Still Give Back to Charitable Causes - BMO Survey

Retrieved on:

Wednesday, November 8, 2023

The survey examined Canadians' spending plans this holiday season and found:

Key Points:

The survey examined Canadians' spending plans this holiday season and found:
Four in five (78 per cent) plan on buying fewer gifts this holiday season.
A quarter (26 per cent) of Canadians will cut down the number of people on their gift list this holiday season.
Over a third (37 per cent) are not confident they will be able to afford every item on their holiday shopping list.
40 per cent are buying less expensive gifts, while 35 per cent plan to reduce their spending by making fewer big purchases.

BMO Expands Digital Personal Banking Products and Resources that Support Real Financial Progress Nationwide

Retrieved on:

Monday, November 6, 2023

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In addition to helping customers budget and set financial targets, the digital Real Financial Progress Hub connects customers to BMO's innovative products and services available nationwide.

Key Points:

In addition to helping customers budget and set financial targets, the digital Real Financial Progress Hub connects customers to BMO's innovative products and services available nationwide.
We have brought all of our personal finance resources into one convenient spot to make financial progress easier," said Paul Dilda, Head of U.S. Consumer Strategy at BMO.
Additionally, the digital Real Financial Progress Hub includes the latest results from the BMO Real Financial Progress Index , a quarterly indicator of how consumers feel about their personal finances and whether they are making financial progress.
BMO customers can also access the above products, services, and resources nationwide through BMO Digital Banking .

BMO Launches First Home Savings Account to Support Canadians' Homebuying Progress

Retrieved on:

Monday, November 6, 2023

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The FHSA combines the benefits of a Registered Retirement Saving Plan (RRSP) and a Tax-Free Savings Account (TFSA).

Key Points:

The FHSA combines the benefits of a Registered Retirement Saving Plan (RRSP) and a Tax-Free Savings Account (TFSA).
FHSA contributions are tax deductible, earnings are tax-sheltered, and withdrawals are tax-free when used towards qualified first-time home purchases.
"Homeownership continues to be important to real financial progress, security and wealth creation for many Canadians and their families.
Customers can learn more about FHSAs and set up an account in a BMO branch, over the phone or through their investment advisor.

A&G and Onyx Clarify Details of Real Estate Sale Involving Developer StoryBuilt

Retrieved on:

Friday, October 13, 2023

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AUSTIN, Texas, Oct. 13, 2023 /PRNewswire/ -- A&G Real Estate Partners and Onyx Asset Advisors are clarifying a press release from October 9, 2023, to clarify the interests being sold related to developer StoryBuilt.

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AUSTIN, Texas, Oct. 13, 2023 /PRNewswire/ -- A&G Real Estate Partners and Onyx Asset Advisors are clarifying a press release from October 9, 2023, to clarify the interests being sold related to developer StoryBuilt.
In addition to the 12 projects solely owned by StoryBuilt, A&G Real Estate Partners and Onyx Asset Advisors are also marketing minority positions in 16 properties.
All sales of these minority positions are subject to the approval of the majority partner, investor, or lender in these properties.
They include:
Fully complete multifamily residential and mixed-use projects that are already generating millions of dollars in net operating income.

BMO Real Financial Progress Index: Americans Consider Side Hustles and Investing Amid Rising Financial Anxiety

Retrieved on:

Wednesday, September 13, 2023

Additionally, 43 percent of Americans say they do not earn enough money to put anything into savings after paying expenses.

Key Points:

Additionally, 43 percent of Americans say they do not earn enough money to put anything into savings after paying expenses.
Ultimately, what these findings show is that Americans want additional financial advice and resources to help with money management," said Paul Dilda, Head of Consumer Strategy at BMO.
With the current inflation surge now stretching past two years, nearly half (46 percent) of Americans say they are not making financial progress.
"These BMO Real Financial Progress Index findings reinforce the fact that customers want leading digital experiences that help them do more with their money.

Investment Advice and Side Hustles Top of Mind as Gen Z and Millennials Seek Greater Financial Security: BMO Survey

Retrieved on:

Wednesday, September 13, 2023

Passive Income for an Active Generation: Nearly half of Gen Z (46 per cent), as well as younger (46 per cent) and older Millennials (50 per cent), are interested in advice on investment strategies.

Key Points:

Passive Income for an Active Generation: Nearly half of Gen Z (46 per cent), as well as younger (46 per cent) and older Millennials (50 per cent), are interested in advice on investment strategies.
Only 23 per cent of Gen X (ages 45 to 54) and 15 per cent Boomers (ages 55 to 64) are looking for more information on side hustles.
Financial Confidence with Advice: Over two thirds (68 per cent) of Gen Z believe a financial advisor is important to helping them reach their financial goals – more than any other generation.
Gen Z are also the most likely to use their digital banking app when looking for advice or guidance on their financial situation (20 per cent).