You can only pay so much for the “basics” until something has to give…..
April 20,2011 (Toronto, ON)– Working to pay off debt and cover basic living expenses, more than half (54%) of Canadians find it a real struggle or impossible to save and 38% admit they have no savings, according to the TD Canada Trust 2011 Report on Savings released today. http://www.smrmediaroom.ca/TDSavings.htm
Careers ending earlier than expected, retirees seeking other income
TORONTO, April 20, 2011— There are surprises in store for Canadians who are expecting to retire on a date of their own choosing, according to the 2nd Annual RBC Retirement Myths & Realities poll. http://www.rbc.com/newsroom/pdf/0420-retirement-myths.pdf
The RBC poll also found in the past 12 months, there has been a significant rise in the number of retirees returning to the workforce because they need the income (41 per cent in 2011 compared to 32 per cent in 2010), as well as a drop in the number of Canadians retiring debt-free (56 per cent in 2011; 61 per cent in 2010).