A majority of Canadians say they don’t think they’re saving enough money, and half of near-retirees (those between 55 and 64 years old) admit that they don’t have a retirement plan, according to a survey.
The SOM survey, conducted on behalf of Desjardins Group, also finds that 94% admit to spending needlessly.
And 47% don’t have an emergency fund that could cover their expenses for more than three months, and 31% know very little or nothing about the savings products offered by their financial institution.
“These results are cause for concern,” says Michel Verreault, vice-president of marketing and sales support for Desjardins Group. “They show that we need to double our efforts to encourage Canadians to save more to prepare for unexpected circumstances, achieve their goals and ensure a comfortable retirement.”
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