Canadian Retirees Surveyed - How Do You Compare? 

Great video Mark👍👍 In my experience, talking with many people who have not invested their money, is due to fear of losing their money, because they do not understand how investments work. When I talked with these people and recommended at least investing in their TFSA, I was surprised how many have never even opened a TFSA. IMO, the major issue with people not investing, is a lack of understanding of how financing works, how stocks work, how ETFs work...etc.. Grade Schools does not teach financing as a primary course but as an option. At a minimum, invest in your TFSA. It's a gift!

Fascinating. I retired single at 57. A DB pension is the key for me. Small investments helped me get 63 k after tax and adjusted for inflation. Home paid off long ago because of an inheritance. So i agree with the stats. My heart ❤️ health is problematic.

I'm going to show this video to my mother. Thank you for making this. This is extremely helpful.

It's important to highlight the difference between "per household" income vs individual income. A large percentage of households are multi-person, so individual income would be expected to be, not half, but substantially less than the "per household" income. As a simple example, if 70% of retirement "households" are 2 people, and 30% are singles, and the "per household" income is $40,000 then the individual income would be $23,529 on average.

Interesting stuff, thanks for the presentation!

What about the annual income, investment breakdown, confidence of financial situation and enjoyment for singles? Are only the couples living well?

Thanks for the summary, much appreciated.

Great video! Thank you!!!

Canadians might have to SOON work 1-2 years longer to cover the new costs of fancy health care and surgery. The longer work should not be too strenuous. RS. Canada

Good talk

Some of these stats are very disturbing, especially the one regarding mutual funds.

And remember, if you can't retire, there is always MAID.😮

Do the authors of your report define what they mean by "household"? Since the composition of households vary, there must be a standard definition they are using.

Have you read or watched (for free) 'The Great Taking'? You might want to

Well as a senior now on limited fixed income I have one comment. The federal coalition government and the BC government treat low income seniors like disposable diapers. Before Covid I was in good shape as I could have retired and worked part time as long as I wanted. I was a contractor in business development and could not replace my cancelled contract due to my customers drop in business and now the actual inflation rate not the phoney one the feds tell us. 🥶🥶🤮🤮

Retirees🌞😎

Would the dental include dentures?

I worked in healthcare for the last 18 years in your lower income so this video very little value to me !

Thank you for a great vid. I see some great gaps/ gaffes in this presentation concerning Canadian retirement preparation. But it is a powerful insight into current thinking and practice/ mispractice. If inflation is your greatest fear of wiping out your purchasing power - then why is no one holding precious metals and only a thin level of crypto? Why are precious metals not even in the survey...its the oldest investment asset class in history. In a land like Switzerland, most wealthy folks hold between 5 and 25% of their wealth in metals...yet completely missing here? War and political instability teaches you the power of this asset class. No one in Ukraine needed metals until after the day Putin invaded, the currency collapsed, and war started - then overnight they all needed it....but none had it...because they had no forethought on the matter. If your currency collapses - or interest rates hit 50% pa - like it did this week in Turkey { an EU member country] or Egypt, then your pension is....complete wiped out and your local currency is worth less than a used bubble gum wrapper. No one in Canada understand this - most of all the financial planning community. I also found the survey really lacking in real estate asset determination - but I think there is quite a bit of bias in the survey as its written by the OSC - so it is investment product/ securities focused. Also many retirees may still own small businesses - run by their children for example and this is not noted in the survey - but is a typical practice among immigrant families for example. Keep up the great content. You are appreciated.

Forget retirement for my generation

Leave Canada or your savings will be sucked out with inflation and rising taxes 😮

I never had to work so I never worked. Even my grandfather retired with more than a million dollars in the 1930's. Things don't look good for future retirees. At some point in time the U.S. stock market will implode reminiscent of the '29 crash back down to fair market value. Ponzi's with zero fundamentals don't last forever. Gold and long term bonds as of today June 7th 2024 after the jobs reports both in Canada and in America look like the best thing to hold and stocks the worse thing to hold.

On minimum retirement income, life is unsustainable. You exist but you do not live a life. Existence is not living, which every human deserves. On top of that, I will most likely be homeless this summer which means it will be my last summer on this planet. Can't happen fast enough!!!

Great information. In follow up to troyboyd’s comment about single retirees. Is there a general percentage of couples calculations, that a single could use?