Comments on: Are Canadians Saving Enough For Retirement? http://www.canadiancapitalist.com/are-canadians-saving-enough-for-retirement/ Helping you invest and prosper Sun, 12 Feb 2012 00:54:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Canadian Capitalist http://www.canadiancapitalist.com/are-canadians-saving-enough-for-retirement/#comment-47398 Canadian Capitalist Mon, 18 Jun 2007 19:11:22 +0000 http://www.canadiancapitalist.com/2007/06/15/are-canadians-saving-enough-for-retirement#comment-47398 Terry: Check out the Wealth of Canadians survey available on the StatsCan website. It has lots of stats for the 55 to 64 age category. <a href="http://www.statcan.ca/bsolc/english/bsolc?catno=13F0026MIE2006001" rel="nofollow">Link</a> Terry: Check out the Wealth of Canadians survey available on the StatsCan website. It has lots of stats for the 55 to 64 age category.

Link

]]> By: Terry http://www.canadiancapitalist.com/are-canadians-saving-enough-for-retirement/#comment-46204 Terry Sat, 16 Jun 2007 15:46:27 +0000 http://www.canadiancapitalist.com/2007/06/15/are-canadians-saving-enough-for-retirement#comment-46204 I'd be interested the stats for 60-65 year olds, if you ever come across them. I’d be interested the stats for 60-65 year olds, if you ever come across them.

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/are-canadians-saving-enough-for-retirement/#comment-45925 Canadian Capitalist Sat, 16 Jun 2007 02:10:36 +0000 http://www.canadiancapitalist.com/2007/06/15/are-canadians-saving-enough-for-retirement#comment-45925 Mike: You are right about averages not telling you much. But median is a significant statistic and comparing it with the average tells you something about the distribution. A 40-year old who has not saved anything for retirement isn't in dire straits. But if the study shows that they should start saving now, I don't see how that is a bad thing. Mike: You are right about averages not telling you much. But median is a significant statistic and comparing it with the average tells you something about the distribution. A 40-year old who has not saved anything for retirement isn’t in dire straits. But if the study shows that they should start saving now, I don’t see how that is a bad thing.

]]> By: FourPillars http://www.canadiancapitalist.com/are-canadians-saving-enough-for-retirement/#comment-45884 FourPillars Fri, 15 Jun 2007 23:18:02 +0000 http://www.canadiancapitalist.com/2007/06/15/are-canadians-saving-enough-for-retirement#comment-45884 I'm just not sure how much you can read into any of these statistics. I'm sure there are a lot of people who should be saving more but things like average RRSP don't necessarily mean a whole lot. I think the relevant factors for determining what kind of retirement someone is going to have is their age, current portfolio, expenses, future contributions, returns, current debt and payment plans. Some 40 year olds don't have much of an rrsp because they are trying to pay down the mortgage. Some have a good rrsp but also have a lot of debt. Some people don't make much money to begin with and can't save much and will probably be eligible for GIS which along with CPP & OAS should allow them to maintain a decent standard of living. Lumping them all together just gets you some meaningless statistics and a nice headline for the business section. Mike I’m just not sure how much you can read into any of these statistics. I’m sure there are a lot of people who should be saving more but things like average RRSP don’t necessarily mean a whole lot.

I think the relevant factors for determining what kind of retirement someone is going to have is their age, current portfolio, expenses, future contributions, returns, current debt and payment plans.

Some 40 year olds don’t have much of an rrsp because they are trying to pay down the mortgage. Some have a good rrsp but also have a lot of debt. Some people don’t make much money to begin with and can’t save much and will probably be eligible for GIS which along with CPP & OAS should allow them to maintain a decent standard of living. Lumping them all together just gets you some meaningless statistics and a nice headline for the business section.

Mike

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/are-canadians-saving-enough-for-retirement/#comment-45872 Canadian Capitalist Fri, 15 Jun 2007 22:40:47 +0000 http://www.canadiancapitalist.com/2007/06/15/are-canadians-saving-enough-for-retirement#comment-45872 I have a copy of the report. It is 12 pages long and I will post the highlights later this evening. I have a copy of the report. It is 12 pages long and I will post the highlights later this evening.

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/are-canadians-saving-enough-for-retirement/#comment-45814 Canadian Capitalist Fri, 15 Jun 2007 20:32:54 +0000 http://www.canadiancapitalist.com/2007/06/15/are-canadians-saving-enough-for-retirement#comment-45814 I've updated with a link to your post. I've requested them a copy of the study, so we'll see. Can't say I am surprised at the conclusions though. I’ve updated with a link to your post. I’ve requested them a copy of the study, so we’ll see. Can’t say I am surprised at the conclusions though.

]]> By: Big Cajun Man http://www.canadiancapitalist.com/are-canadians-saving-enough-for-retirement/#comment-45786 Big Cajun Man Fri, 15 Jun 2007 19:13:56 +0000 http://www.canadiancapitalist.com/2007/06/15/are-canadians-saving-enough-for-retirement#comment-45786 But where is the actual survey? All I get are interpretations and commentaries on the actual survey, but I can't find it anywhere. Oh and I did a bit on this today as well :-) But where is the actual survey? All I get are interpretations and commentaries on the actual survey, but I can’t find it anywhere.

Oh and I did a bit on this today as well :-)

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