Retirement Saving Should Be Realistic Not Idealistic

Retirement reality

Planning for retirement can be overwhelming. It requires thinking about long-term goals and it forces consideration of a more sensitive subject — one’s own mortality.

An RBC study reports that only 52% of Canadian boomers actually put a plan on paper despite understanding its importance. However, they worry about it. According to a recent Investors Group survey, financial concerns affect 32% of Canadian couples and 60% of them put retirement savings worries at the top of the list.

For many Canadians, a sense of futility comes from thinking “I’ll never be able to save enough money.” They might be influenced by the old rule of thumb that suggests 70% of pre-retirement income is needed to maintain a current standard of living.  Read More…


  1. The biggest obstacle for most folks is coming to terms with the idea that you MUST save early and not spend it on yet another flat screen that you want today and that your friend has. Most can’t resist. And is where the problem lies. We need to teach our kids the value of savings and make it cool!

  2. I am very risk adverse and so even from this article i feel it is all about pushing into investments that have a large potential risk. I mean, what if i get into retirement and my stocks collapse? Wouldnt i be broke then?

    There has to be better options for the rest of us that want a more assured future. Isn’t there?

  3. Unless you were born with a silver spoon you are best to follow the advice closely.

    I started saving for my retirement late via RRSPs. I didnt know much about them until i hit my 30s and then i started to have a bit of a heart attack thinking i might be in trouble.

    Things are looking up since my ROI is now at 10%. At least for now it is. 😛

  4. I still don’t even know what CPP is all about besides a thing on my tax slip that i pay into with no benefits 🙁

  5. Annuities. Look into it!

  6. Planning for retirement is overrated. From my calculations if you just do something as simple as tell your employer to put aside 30% of your paycheque to an investment fund in 15 years you will have all you ever need.

  7. You can always move into a somewhat impoverished country like China and live like a king when you are about to leave the workforce.

    I would think your dollar there would be like a millionaire here 🙂

  8. LOL i find that the study being done by RBC it would be a little biased towards stirring up fervor to get us into investing (ideally with them) quick. They would like that very much 😉 lol!

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