Sorry to break the news, but that dream retirement you’ve been waiting for? It’s not going to happen. That’s according to a new RBC poll that says only one in four Canadians feel they’ll have enough money to retire in style.
While that’s unfortunate, at least you’ll be able to pay the bills — 90% of respondents said they’ll have enough cash to cover basic necessities.
The survey also found that 75% of retirees couldn’t say how much they spent in their first year of retirement. For those who did know, they spent an average of $35,000.