One-third of Canadians haven’t started saving for retirement

Canadians appear to be leaving their retirement up to chance, rather than choosing to plan. In fact, while 61% agree that one of their top concerns is running out of money if they live to age 100, only 39% have put away money towards retirement savings in 2014, finds RBC. Further, one-third haven’t started saving yet.

Read: Investors putting retirement at risk

Additional findings include:

• 75% of women and 62% of men don’t have a retirement savings goal;
• 67% of women, 55% of men haven’t done any retirement planning;
• 60% of women, 54% of men don’t have a financial plan;
• 39% of women, 31% of men don’t have RRSPs; and
• 44% of women, 38% of men don’t have a company pension plan.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.