If you haven’t thought about retirement, it looks like you better start, because the future isn’t looking so great for Canadians. Especially considering the majority of people in our country have a hard enough time living paycheque to paycheque.
The eighth annual installment of the CPA’s national Research Survey of Employed Canadians has discovered some alarming information on Canada’s future.
– The average Canadian feels you need at least $1 million in savings for retirement.
– 75% of respondents say they’ve only saved a quarter — or less — of their retirement goal.
– Almost half of Canadians aged 50+ are still less than a quarter of the way to their retirement savings goal.
So, how much money do you think would be adequate to live a comfortable post-career life? Do you pay towards your private retirement “fund” weekly or on a regular basis – or are you even able to?
Finally, at what age do you think you’ll retire? Now, at what age would you like to retire? Taking your calls and texts after 1pm: 204.780.6868.