According to a nearly-unrelated article in the Star: "just a third of Canadians set to retire in 2030 are saving at levels needed to meet basic household expenses."
Interesting! I wonder if I'm one of those one third of Canadians? (I'm not set to retire in 2030, but that's the year I turn 50 and my parents retired around that age so it gets me thinking.)
Guess what, I have no idea if I'm saving enough, because I have no idea what kinds of savings are required today to meet basic household expenses decades from now. I have a nice little system that sounds all impressive and organized and some nice numbers that look pretty on paper and I could convince just about anyone that I'm being all good and diligent, but I have no idea how to actually extrapolate whether this will be sufficient decades in the future.
Since someone seems to be able to do the extrapolations, it would be helpful if they'd share this with us.
1 comment:
All the talk about "saving enough for retirement" is an insult to all the people who can't possibly earn enough money to save, who can barely make it to the next paycheque.
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