May 9 roundup
On how much you need to retire well, downplaying house prices and easing debt trends in Canada.
•How much money do you need to retire well? Our friends at Canadian Business have done the math and suggest 25 times your current annual spending (or between $325,000 and $675,000 for the average single middle-income earner) should cut it. Meanwhile, RBC published the results of a new poll Wednesday that found fewer than one-third of North Americans are confident they will have enough money for a secure retirement.
•What bubble? CHMC dismissed fears of a housing market bust in its annual report issued Tuesday and bank leaders seem to agree, according to Maclean’s.
•Canadian household credit is now growing at its slowest pace since 2002 easing pressure on the Bank of Canada to raise interest rates, according to a new CIBC report.