Canadians are not confident they will retire the “Freedom 55” way, as almost half of Ipsos Reid’s respondents said their incomes are causing them stress.
 
The idea of Freedom 55 is retiring without debts and mortgages to think about, and it seems to be out of reach for many Canadians these days.
 
The survey commissioned by a news network revealed that nearly half or 45% of Canadians polled are feeling stressed with their income, or keeping a steady income. These people do not think they’ll have enough money left to retire in the manner they have often dreamed about.
 
While the other half – 48% – are saving up for retirement, only 37% of younger Canadians are proactive in their savings.
 
Experts believe not saving for retirement is one of the biggest mistakes Canadians are making. 
 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate


More market watch: