Among the findings of the annual RBC Financial Independence in Retirement survey is a conclusion that there’s nothing like a pandemic to get us thinking about how we’re making out in setting money aside for the golden years.
Canadians were polled on the current state of their financial plans and issues that are keeping them up at night, especially after nearly two years of pandemic.
What the survey discovered is that we Canadians have found a new place for the RRSP, which had been declining in popularity for the better part of a decade. Last year, Canadians pivoted and have once again embraced this as a savings vehicle.
Two years ago, 46 per cent of Canadians held one. Last year, that percentage was back up to 53 per cent. Plus, we are more likely to hold mutual funds and equities in them.
Here in Saskatchewan, the survey found that our top two priorities were:
1. having enough savings to finance our retirement
2. being able to maintain our standard of living after we stop working.
