Benefits

Half of Preretiree Canadians Have Retirement Financial Plan

By Rebecca Moore editors@plansponsor.com | May 03, 2012

May 3, 2012 (PLANSPONSOR.com) - Half of Canadians recently polled said they had a written financial plan for retirement.

Three-quarters of respondents said they had used a financial adviser, according to the Rogers Group Financial Horizons Retirement Report, which polled 400 Canadians ages 46 to 64 who expect to retire within the next three to seven years and have net investable assets of $200,000 or more.

Thirty-five percent of the preretirees cited market volatility as a significant concern for retirement, particularly inflation rates and having enough money. 
  

Eight in 10 respondents expect to earn at least $2,000 a month in retirement, usually funded by a combination of registered retirement savings plans, government pensions and tax-free savings accounts. One in seven respondents expects to carry more than $50,000 of debt into retirement.