17 January 2014
On average, the smallest savings were named in Quebec ($584,000) and the highest ones in Alberta ($1,300,000).
Another interesting thing is that wealthy consumers showed more confidence in their success with saving the necessary sum: 95% of them were happy with their saving pace, while the overall population showed only 69%.
This online poll was conducted last spring and in the second half of 2013 with 1,300 Canadians surveyed.
Real estate can be a great part of retirement planning, however putting all eggs in one basket can be extremely dangerous, so speak with you advisor about proper retirement plan. We also have a great solution for those Canadians who are approaching retirement age have fully paid house (or relatively small mortgage left) but don’t have much in savings and investments to finance their golden years. Please talk to us about reverse mortgage solution which allows living comfortably in your own property and financing your everyday life without making any payments!