Retirement Anxiety - Tuesday May 31

On the other end of the spectrum from yesturday's topic about OAS clawback 2 surveys were released this year showing a high level of concern among Canadians close to retirement whether they had saved enough. The results from the TD Waterhouse poll of people between age 45-75 was that 67% worried they hadn't saved enough and 39% planned to keep working to fund their retirement. From the Chartered Accountants poll 40% of people aged 55 or older said they hadn't saved enough for retirement and 32% of those retiring in the next 5 years think they don't have enough saved. The only way to know is run the numbers by having a written financial plan that incorporates various scenarios. An Advisor can help you with that provided it is a planning based not sales based approach.