Want a happy retirement? Start planning - MoneySense

Want a happy retirement? Start planning

Canadians who planned for their retirement had 2.5 times more money on avg. than those who didn’t


If you don’t have a plan in place for retirement you’re not alone. 65% of Canadians are in the same position and half of those polled globally lacked a retirement plan.

If you’re a woman and you don’t have a retirement plan you’re in even better company, since men are significantly  more likely to plan for their retirement. Globally, women between ages 50 and 60 are likely to experience the most financial hardships in retirement

HSBC surveyed 1,033 Canadians and about 17, 000 other respondents in 17 countries for their annual “Future of Retirement” study.   The 2011 poll, released today, is called The Power of Planning.

The study also found that Canadians are more anxious about their retirement than other countries. Just under half of global respondents are worried about their finances in retirement, compared with two-thirds of Canadians, who also feel that they haven’t saved enough.

Canadians, nevertheless, are  excited about retiring with 56% of us equating that time in our lives with “freedom”.  Less than 10% of us see it as “the beginning of the end”.