A new report shows that a large percentage of Canadian retirees were forced to stop working and many are struggling to pay bills. The Angus Reid Institute surveyed almost 2000 Canadians including 40 per cent who are retirees. Of those who had stopped working 48 per cent had not wanted to do so and 27 per cent of those said they are finding it hard to make ends meet. Only 6 per cent said they retired later than planned. Among the respondents 46 per cent are comfortable but do not have a surplus and 48 per cent are concerned that they will outlive their savings. That was also a concern of 74 per cent of those surveyed who are still working.
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: