Though most clients need help saving for retirement, those aged 34 to 40 are particularly vulnerable to life getting in the way of those plans, finds a TD survey.

In fact, 74% of respondents say they’d like to save more, but everyday financial obligations take precedence.

Read: Canadians aren’t making saving a priority: survey

Common expenses cited in the survey include monthly bills (60% of respondents), credit card and loan payments (44%), mortgage payments (33%), childcare costs (24%), home maintenance (22%) and school loans (13%).

As a result, about half of clients aged 34 to 40 describe themselves as uncertain or unprepared for retirement.

On the positive side, Statistics Canada finds that 72.2% of households with a major income earner aged 35 to 44 have a retirement savings plan, registered pension plan or tax-free savings account.

And 77% of survey respondents say they plan to start contributing, or contributing more, to their retirement savings in the next five years. Only 16% say they’re too young to save.

About the survey: TD commissioned Environics Research Group to conduct an online survey among a total of 2,500 adults from Oct. 26 to Nov. 3, 2017. To qualify for the survey, respondents had to be 18 years of age or older and reside in Canada. Of the respondents, 558 were aged 34 to 40 years old.

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