One fifth of Canadians say they will never retire. The figures from a study by the Conference Board of Canada show the large percentage of people reaching retirement age who don’t have enough savings to stop working.
Sixty per cent of those between 55 and 64 and 40 per cent of those above 65 say they haven’t saved enough.
Although these are worrying figures for the current crop of baby boomers, it seems that younger Canadians are already doing things differently. The survey reveals that a third consider plans for retirement a priority with a quarter already having plans in place.
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