While taking care of your finances before retirement is a smart way to make the most of your golden years, 62% of Canadians plan to retire with mortgage debt., according to Investor’s Group.

Due to worries over rising interest rates, two-thirds of Canadians are unsure of whether or not they’ll be able to make regular mortgage payments. Experts are worried that even a small rise in rates could be disastrous for those people who are already struggling to meet their financial obligations.

Beyond this, 56% of Canadians do not consider paying off their mortgage as an important factor in deciding when to stop working. The median mortgage balance for retired Canadians is $82,000.