In July, a CIBC poll revealed a startling 59% of Canadian retirees are in debt. What’s most concerning is that only two years ago, that number was closer to 40%.
The prospect of insufficient retirement income keeps most Canadians up at night. But the third annual RBC Retirement Myths and Realities Poll reveals the majority of boomers can’t wait to retire.
It may not have been what you would expect from a discussion panel entitled Influencing the Need for Retirement Savings, but one human resource expert says we already save too much for retirement.
Whether it’s a lack of sufficient retirement funds or simply enjoying their jobs, more Canadians are staying in the workforce after age 65.
I recently had some interesting conversations about retirement with affluent boomers who were vacationing at the same resort I was visiting.
Demand for suburban detached homes remains strong among baby boomers. Almost half (43.5%) want to purchase another primary residence that’s a similar size or larger than their current property, finds Royal LePage. And 66.8% say they’ll do so in the next five years. Read: Fewer Canadians will retire at 66 “Baby boomers are the wealthiest […]
Each generation, from Boomers to Gen X to Millennials, have specific attitudes towards money and saving influenced by when they grew up and the realities of their life stages. “Understanding what motivates your generation to save can help identify useful financial planning strategies for each stage of your life,” says John Tracy, senior vice president, […]
Canada’s boomers are finding their footing in the digital age. In fact, 89% rival younger Canadians (99%) in their levels of Internet access, finds Ipsos Reid. They’re even taking up new media and devices. “We are seeing online boomers becoming more comfortable as their adoption of new devices is trending upwards,” says Dave Pierzchala, senior […]
Once you persuade a boomer to invest in equities, what should they buy?
Whether doing freelance consulting work, buying a franchise or opening a specialty business, more than half of boomers (54%) have started or considered starting a small business before retirement, finds a TD survey. Boomers with the entrepreneur bug want to be their own boss (58%); make more money (53%); or have a sense of personal […]