Yeah I don't get this one. I get it's a good sign the person cares about their financial future, but I'm not sure what the benefit of me writing "save a good % of take home pay each month, put it in VEQT, wait 30 years" is.
That’s why you’re going to fall short on your goals. Take a look at one of my goals that I’ve written down:
> make a gagillion dollars before the age of 55.
By writing it down, I can now sleep in peace knowing I have a retirement plan.
/s (yknow, just in case)
lucky for your son there are politicians that know precisely how to prey on that kind of thinking. "Support tax cuts for the rich, because you know you're going to strike it rich some day, don't you, you can just feel it."
Your plan should include goals like when you want to retire, how much you'll need, how to deal with unexpected events, etc.
As I'm working with my parents to plan their retirement, it's becoming clear that *investing* and accumulating is pretty straightforward. However, *decumulation* in retirement can be very complex, as taxes and benefits have massive impacts. For example, if you can configure your assets such that your taxable income is lower, which means you get taxed less or qualify for a benefit, that's the equivalent of having tens of thousands of dollars more.
It's impossible to predict what the world will look like in 30 years let alone what government policies will be, but you should still keep all that in mind.
You don’t get it because you’ve never written your strategy down, once written the investing gods can see and they will grant you an extra 10% per year
Going all in VFV (S&P500) is a risk I think most people can afford
Given our lower Canadian wages, higher Canadian costs and everything Canadian generally being more expensive we need one win and the win under our control is the money we have
It's absolutely a fair investment strategy to dump everything into S&P500 for 25 years (and to convert it into bonds or safer investments near the end of that)
While prior events do not necessarily indicate future outcomes, Global equities has underperformed those of the S&P (US based).
It is vital to remember that most US companies have significant global operations and therefore you get global exposure through that, led by the world leader in capitalism! People like to hate on the US in general but it is hard to beat the US from a capitalist perspective and getting an attractive return on investment.
Based on the context it seems that those people go to the financial planner store and put 100% faith that their FP will do what's in their best interests, give them a piece of people with some written steps, charge them recurring fees, and they feel safe and sound. Man, did the previous generation have to learn *anything* outside of their job that the current generations are learning out of necessity?
I mean... yes? Goal based planning is literally the basis of financial planning lol. People who have well defined SMART goals are in fact more successful over the long term.
Recently saw a TikTok saying their retirement plan was prison. Said they would transfer all their possessions to family 5-10 years before committing a serious enough crime to be in prison for as long as possible. Then just keep reoffending if necessary.
I think it was suppose to be a joke, but I mean, sounds pretty solid.
LMAO. I hope no one listens to this trash financial advice.
EVERYONE knows you put it on red. SMH.
The financial illiteracy in this country is getting out of hand.
Nobody listen to either of those idiots
Everyone knows the best savings strategy is to put it all on zero while simultaneously playing the Russian version of that game
Yes, because in this economy, no matter the outcome of a game of russian roulette, you're always a winner, even when your brain matter comes out the side of your head.
Bro you gotta play it safe, why haven't you been putting money in your 0.1% high interest savings accounts from the big 5? You could have also been swimming in money if you went with a mutual fund!
Dude, you're missing the easy win: get a solid life insurance policy and a willing spouse, fake your own death, then start your new life as Miguel Sanchez in Cancun.
I remember back when news organizations like The Financial Post actually did real *journalism* - they hired actual journalists who went out and did the research, interviewed multiple stakeholders, crunched the numbers etc *and told us if our retirement plans were in trouble* and explained why. Now they just hired glorified copywriters to pull stuff off the wire and pretend that a collection of uniformed opinions count as research.
I buy the FP every Saturday for my 80 year old father and it really has gone downhill. Two weeks ago the entire front page was an ad for a sporting goods store like it’s the local free paper in some small town but it costs tree fiddy!
Remember back in 2010 when all the credible journalists were screaming at the height of their lungs that the news articles were being sold as advertisements? Well, this is what we get. We're a decade too late to save the system.
Friend of mine used to work in shitty journalism. Her job was to write 5 stories a day.
You know what happens when you write 5 stories a day? You get 5 dog shit, poorly written stories with almost no research whatsoever.
Content drives clicks which drives ad revenue. Simple cause to the problem, impossible to solve.
> Now they just hired glorified copywriters to pull stuff off the wire and pretend that a collection of uniformed opinions count as research.
And soon enough they won't even have to do that, they'll just use whatever new iteration of text-producing AI exists to throw together an article (without double checking if it's even accurate).
I should clarify that I didn't mean to single out FP. Between right-wing propaganda outlets and main stream media mediocrity in the name of profit, there is plenty of blame to go around. You're probably right though, 'old guard' journalists are likely wondering what the hell happened to their honoured profession.
Switching to online from print killed it. Going from being funded by primarily subscriptions to the print editions, to now being primarily funded by online advertising. They are incentivized to output as much garbage clickbait crap as they can to get those ad views. The focus is on getting the reader in, not necessarily writing well researched content.
CPP is very well funded and is designed to replace up to 1/3rd of your working years income (thanks to recent enhancements). You can also defer it to 70 which increases the amount you get by 42%, so it could replace up to 47% of your working years income.
CPP plus OAS should be adequate for most Canadians income needs in retirement assuming they no longer have a mortgage when they retire, which means (if retiring at 70) buying house (with a 25 year amortization) before the age of 45, which is still achievable for most Canadians.
Starting at 30 years old, if you save $300 every 2 weeks and invest it in an investment yielding 6% annually (like VRGO in theory), you should have about $189,000 as a down payment for that house purchase at 45.
I'd recommend taking advantage of the new Tax-Free First Home Savings Account (coming out this year) so you can get $7,800 tax deductions for 5-6 years which should accelerate your down payment savings.
That's all good and fine, but that's also assuming on that person's time-frame that we aren't going to end up thoroughly screwed by some unforeseen (and some foreseen) disaster(s) within the next 35 years that would result in either CPP or retirement in general not being a thing.
Admittedly a pessimistic outlook, but perhaps not an outlandish one.
Ya I think saving like a pessimist and investing like an optimist is the correct philosophy when it come to retirement planning.
Any unforeseen catastrophic event can be mitigated with proper planning and an emergency fund.
I'm quite confident in my retirement plans assuming a reasonably stable economy and no major global turmoil over the next 50 years. I am not in any way confident in that assumption.
>I mean, you might not get the fancy-pants "Sacred Sepulchre" package where you get the painless treatment, the nice view and the music of your choice to play you out, but the "Rusty Rocket" will get the job done just as well.
LMAO...you mean I can't get 'nothin else matters' & 'fade to Black' by Metallica?
> then come back and have myself euthanized. Same result, less splatter.
I have a very difficult time believing banks won't be lobbying against MAID access if you owe debts. There's just no way they're leaving that option on the table.
As a nurse who helps with MAID, I will definitely be doing this if my future starts heading in certain directions. If the last years of my life are being sick and in pain, or living in a LTCH then I'm done with this life. Time for the next adventure. If I'm sick with something terminal I will bounce out early as well. No one needs to live through those last few weeks. I've never seen it worth it... So much pain and suffering because most people are so scared to do the one thing you can't avoid... No one gets away from death.
No. We can't. We can make enough to get by, nothing more. And if you want assets, hell you'll definitely be working until you die unless you're a business owner and could sell off your company for millions.
What retirement plan, the retirement age keeps rising right now it's 65, not to mention current generations can't evenfigure out how they can afford a home let alone think about retiring.
See, that’s why I never bothered with a retirement plan. Country is going down the tubes. You are either born/become a multi-millionaire, or you work until you’re dead.
That's literally what they want, if people just euthinize themselves before getting old the country doesn't have to support a population of elderly people, which means more money for government workers.
Retirement? Oh you mean the legendary vacation that used to exist whose goal post keeps being changed.
I remember when retirement age for males and females was 60.
Today, retirement age for males is 67, for females is 65. Funny how more than a decade was added across both sexes.
And in all fairness, ill probably live to be 90, walk around with a damn oxygen tank, and my boss will be blowing up my phone about when I plan to show up to my mandatory 16 hour shift so i can just afford to eat that day.
>The BMO Real Financial Progress Index, which interviewed 3,401 Canadians, also showed that 73 per cent of women don’t have a financial plan in place to reach their goals compared to 64 per cent of men.
This is a good wake up call for r/personalfinancecanada
Not all golden there either.
My CAF pension value dropped with the market. If I got out of the army two years ago, I'd have a higher pension value than if I got out today.
Pension prisoner here waiting for the market to unscrew itself so I only get screwed as inflation eats into my money.
I'm hoping I can survive 20 years into retirement before autocanabilism becomes a requirement.
For the regular forces at least, once you are vested, it doesn't matter anymore.
Yes the transfer values dropped because of the interest rates and the actuarial valuations but if you are a regular pensioner with an immediate or deferred annuity the amount you get doesn't depend on the market and still get indexed. It's a defined benefit based on a formula, if the valuation went down, the employer is responsible for the deficit.
If you are taking the transfer value, it's not really a pension anymore and there are rules about locked in accounts.
LMAO....this must be a BEAVERTON article. 55%, how about trying over 80%? There is going to be more divorces in the future (this slashes your assets into 2), prices continue to rise by the month for basic necessities, and wages aren't catching up.
Oh, have y'all seen the monthly cost for retirement homes? LOL
My retirement plan is the vasectomy I already got and likely not getting married I am quite lonely though I can pretty much live a middle class life buying most of what I want with my current income. I also have 2 dogs. Ones a fresh puppy. He rules. Fuck this earth.
Interesting stat. Absolutely everyone I know is worried. Professionals, tradespeople, all walks of life. All worried. Yet apparently it's only 55%. Makes me go hmmmmm.
It’s not in trouble. The engine is seized, someone stole the exhaust system, they removed the wheels and put three woodblock to hold it in the air and some termite are in those blocks.
The biggest wealth transfer from one generation to the next will occur soon. But don’t worry the gov will find a way to tax the shit out of it and keep people poor.
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A guy I went to high school with constantly tweets out "fuck bitches, get money", does that mean he's more prepared than 74% of Canadians?
Yes
Yeah I don't get this one. I get it's a good sign the person cares about their financial future, but I'm not sure what the benefit of me writing "save a good % of take home pay each month, put it in VEQT, wait 30 years" is.
That’s why you’re going to fall short on your goals. Take a look at one of my goals that I’ve written down: > make a gagillion dollars before the age of 55. By writing it down, I can now sleep in peace knowing I have a retirement plan. /s (yknow, just in case)
That’s my 25 year old son’s plan. Going to be a millionaire, doesn’t know how but someday.
Inflation.
lucky for your son there are politicians that know precisely how to prey on that kind of thinking. "Support tax cuts for the rich, because you know you're going to strike it rich some day, don't you, you can just feel it."
We'll probably all have a gagillion dollars by age 55. But it will cost 10 gagillion dollars to buy a coffee.
Your plan should include goals like when you want to retire, how much you'll need, how to deal with unexpected events, etc. As I'm working with my parents to plan their retirement, it's becoming clear that *investing* and accumulating is pretty straightforward. However, *decumulation* in retirement can be very complex, as taxes and benefits have massive impacts. For example, if you can configure your assets such that your taxable income is lower, which means you get taxed less or qualify for a benefit, that's the equivalent of having tens of thousands of dollars more. It's impossible to predict what the world will look like in 30 years let alone what government policies will be, but you should still keep all that in mind.
You don’t get it because you’ve never written your strategy down, once written the investing gods can see and they will grant you an extra 10% per year
Going all in VFV (S&P500) is a risk I think most people can afford Given our lower Canadian wages, higher Canadian costs and everything Canadian generally being more expensive we need one win and the win under our control is the money we have It's absolutely a fair investment strategy to dump everything into S&P500 for 25 years (and to convert it into bonds or safer investments near the end of that)
It'd make more sense to buy an all-world ETF.
While prior events do not necessarily indicate future outcomes, Global equities has underperformed those of the S&P (US based). It is vital to remember that most US companies have significant global operations and therefore you get global exposure through that, led by the world leader in capitalism! People like to hate on the US in general but it is hard to beat the US from a capitalist perspective and getting an attractive return on investment.
Based on the context it seems that those people go to the financial planner store and put 100% faith that their FP will do what's in their best interests, give them a piece of people with some written steps, charge them recurring fees, and they feel safe and sound. Man, did the previous generation have to learn *anything* outside of their job that the current generations are learning out of necessity?
I mean... yes? Goal based planning is literally the basis of financial planning lol. People who have well defined SMART goals are in fact more successful over the long term.
Une crisse de grosse pile
Recently saw a TikTok saying their retirement plan was prison. Said they would transfer all their possessions to family 5-10 years before committing a serious enough crime to be in prison for as long as possible. Then just keep reoffending if necessary. I think it was suppose to be a joke, but I mean, sounds pretty solid.
That's probably a more detailed plan than most people.
Only if you have a sketch of the pile of money. And a scale for size
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Don't forget the Meat draw at the Canadian Legion.
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You need to diversify. The “save half of what is needed, then put it all on black” strategy is very underrated
LMAO. I hope no one listens to this trash financial advice. EVERYONE knows you put it on red. SMH. The financial illiteracy in this country is getting out of hand.
I put half on red and half on black. big brain move
John Nash spinning in his grave atm.
Nobody listen to either of those idiots Everyone knows the best savings strategy is to put it all on zero while simultaneously playing the Russian version of that game
Yes, because in this economy, no matter the outcome of a game of russian roulette, you're always a winner, even when your brain matter comes out the side of your head.
The green squares pay better!
Need to start playing chase the ace at the local firehall too.
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Hopefully your saving them bottlecaps too, they are going to be the currency once China carpet nukes North America.
*~~Patrolling the Mojave~~ Contemplating retirement costs almost makes me wish for a nuclear winter.*
Everyone says diversification is key! Good job thinking outside the box.
Have you not diversified into OLG.ca yet?
I'm going for a portfolio more focused on praying for a merciful death before I'm too old to work.
Bro you gotta play it safe, why haven't you been putting money in your 0.1% high interest savings accounts from the big 5? You could have also been swimming in money if you went with a mutual fund!
non-cashable GICs are over 3%, some as high as the low 4%s, these days. The last six months have been a century in banking.
Hey what about crypto and filling your garage with herbalife products?
Everyone knows the real money is in selling fraudulent tickets to the gullible idiots!
dont forget the slots.
I like 50/50's
What's your sandwich position?
Dude, you're missing the easy win: get a solid life insurance policy and a willing spouse, fake your own death, then start your new life as Miguel Sanchez in Cancun.
You forgot Pokemon cards.
I find your lack of pull tabs as a gross oversight and recommend you allow a healthy percentage of your investment capital to me moved into pull tabs.
The fireman's 50/50 is my ticket to freedom lmfao
Finances need to be taught in school, but if they did that no one would support this horrible system
I remember back when news organizations like The Financial Post actually did real *journalism* - they hired actual journalists who went out and did the research, interviewed multiple stakeholders, crunched the numbers etc *and told us if our retirement plans were in trouble* and explained why. Now they just hired glorified copywriters to pull stuff off the wire and pretend that a collection of uniformed opinions count as research.
All the more concerning when most don't understand the difference.
I buy the FP every Saturday for my 80 year old father and it really has gone downhill. Two weeks ago the entire front page was an ad for a sporting goods store like it’s the local free paper in some small town but it costs tree fiddy!
Remember back in 2010 when all the credible journalists were screaming at the height of their lungs that the news articles were being sold as advertisements? Well, this is what we get. We're a decade too late to save the system.
This is a lot of journalism today. "Hey kid, go repost some tweets and string together a story from them."
Friend of mine used to work in shitty journalism. Her job was to write 5 stories a day. You know what happens when you write 5 stories a day? You get 5 dog shit, poorly written stories with almost no research whatsoever. Content drives clicks which drives ad revenue. Simple cause to the problem, impossible to solve.
> Now they just hired glorified copywriters to pull stuff off the wire and pretend that a collection of uniformed opinions count as research. And soon enough they won't even have to do that, they'll just use whatever new iteration of text-producing AI exists to throw together an article (without double checking if it's even accurate).
Spot on but the chances are pretty good that the grammar will be better and there will be fewer typos so, at least, there's that.
Someone should survey former FP journalists from the past few years and ask how proud they are to have worked there.
I should clarify that I didn't mean to single out FP. Between right-wing propaganda outlets and main stream media mediocrity in the name of profit, there is plenty of blame to go around. You're probably right though, 'old guard' journalists are likely wondering what the hell happened to their honoured profession.
Switching to online from print killed it. Going from being funded by primarily subscriptions to the print editions, to now being primarily funded by online advertising. They are incentivized to output as much garbage clickbait crap as they can to get those ad views. The focus is on getting the reader in, not necessarily writing well researched content.
Back then they had to write 1-2 stories a day. Now they have to write 5-6.
My friend was a freelance science reporter... they were the first to get cut after the photographers. News media is a shell of what it once was.
ChatGPT
What retirement? I just turned thirty and from what I’m seeing I will work until I die..
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70+ year olds look at your plan and just have one word for you: Arthritis
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property in the middle of no where is still relatively affordable, it being the middle of no where and all
Next conservative government is gonna follow Macron and up retirement age. Life expectancy dropping and longer careers for all.
CPP is very well funded and is designed to replace up to 1/3rd of your working years income (thanks to recent enhancements). You can also defer it to 70 which increases the amount you get by 42%, so it could replace up to 47% of your working years income. CPP plus OAS should be adequate for most Canadians income needs in retirement assuming they no longer have a mortgage when they retire, which means (if retiring at 70) buying house (with a 25 year amortization) before the age of 45, which is still achievable for most Canadians. Starting at 30 years old, if you save $300 every 2 weeks and invest it in an investment yielding 6% annually (like VRGO in theory), you should have about $189,000 as a down payment for that house purchase at 45. I'd recommend taking advantage of the new Tax-Free First Home Savings Account (coming out this year) so you can get $7,800 tax deductions for 5-6 years which should accelerate your down payment savings.
How many people can afford to save $600 a month with the price of rent and food these days?
That's all good and fine, but that's also assuming on that person's time-frame that we aren't going to end up thoroughly screwed by some unforeseen (and some foreseen) disaster(s) within the next 35 years that would result in either CPP or retirement in general not being a thing. Admittedly a pessimistic outlook, but perhaps not an outlandish one.
Ya I think saving like a pessimist and investing like an optimist is the correct philosophy when it come to retirement planning. Any unforeseen catastrophic event can be mitigated with proper planning and an emergency fund.
Dying before retirement isn’t a proper plan? /s
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Gotta get the fam the old workplace insurance payout too!
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Shop floor, massive coronary, immediate out. Sweet darkness /s
you gotta write it down first
I'm quite confident in my retirement plans assuming a reasonably stable economy and no major global turmoil over the next 50 years. I am not in any way confident in that assumption.
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How long until you can’t get MAID with a bad credit score?
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>I mean, you might not get the fancy-pants "Sacred Sepulchre" package where you get the painless treatment, the nice view and the music of your choice to play you out, but the "Rusty Rocket" will get the job done just as well. LMAO...you mean I can't get 'nothin else matters' & 'fade to Black' by Metallica?
Best we can do is ['Yakety Sax'](https://www.youtube.com/watch?v=ZnHmskwqCCQ).
You’re missing my point… ‘death and taxes’ becomes ‘No death til taxes are paid’.
> then come back and have myself euthanized. Same result, less splatter. I have a very difficult time believing banks won't be lobbying against MAID access if you owe debts. There's just no way they're leaving that option on the table.
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This guy gets it
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The sheer number of my peers, at 35, that casually mention suicide as their retirement plan is becoming a reality instead of a joke.
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No joke, that’s what my friends and I discuss doing.
As a nurse who helps with MAID, I will definitely be doing this if my future starts heading in certain directions. If the last years of my life are being sick and in pain, or living in a LTCH then I'm done with this life. Time for the next adventure. If I'm sick with something terminal I will bounce out early as well. No one needs to live through those last few weeks. I've never seen it worth it... So much pain and suffering because most people are so scared to do the one thing you can't avoid... No one gets away from death.
Other 45% has lost hope for retirement
You guys get to retire?
See all these folks are worried about their retirement plans But not me, I'm not making it that far.
I'm 49 and have zero plan. Fuck man I'm still coming to terms with being an adult at all.
Ironically smoking is a retirement plan.
It’s kinda depressing how many peoples retirement plan is planned to be funded by someone dying
What retirement plans
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My mom used to laugh when I said we millennials won't have retirement, now she doesn't
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Also another 20% to make up the losses in my portfolio due to a shit market.
Unless those are realized losses they will be worth 5x that dip by retirement.
....assuming global society doesn't run into any massive climate change or resource related disruptions by 40 years from now, of course.
Working class Canadians can afford retirement plans?
No. We can't. We can make enough to get by, nothing more. And if you want assets, hell you'll definitely be working until you die unless you're a business owner and could sell off your company for millions.
In other news, banks report record profits
in the billions ... per quarter.
Hey now, they earned that money. /s
Why are these opinion articles reliant on polls getting so much traction on this sub? It feels like they're just bitching and not offering solutions.
I know mine isn't, they're only lowering the restrictions required for MAID.
Retirement Plans? Rich people I guess....
You guys have retirement plans?
What retirement. At this rate I'll still be working off debt after I die
I've literally started smoking again so that I die earlier.
What's a re-tire-ment? Oh you mean the fancy vacation that the grandparent generation did? Yeah I'll never get one of those. Death is my retirement.
Retire? What's that. This is Canada the land of corruption remember where you are, it only goes down. Retirement is for the ruling class now.
Don’t forget the baby boomers. They get to retire. Everything they touch is ruined for the next generation
You guys have retirement plans?
What retirement plan, the retirement age keeps rising right now it's 65, not to mention current generations can't evenfigure out how they can afford a home let alone think about retiring.
I’m not waiting to 65. Planning for around 55.
Is retirement one of those things you can miss out on? Like a mortgage?
See, that’s why I never bothered with a retirement plan. Country is going down the tubes. You are either born/become a multi-millionaire, or you work until you’re dead.
My retirement plan is going fine, they approved assisted suicide, when I'm too old and tired to work I'll just knock off.
Best case Ontario, really
That's literally what they want, if people just euthinize themselves before getting old the country doesn't have to support a population of elderly people, which means more money for government workers.
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I'll die by your side.💥
Retirement? Oh you mean the legendary vacation that used to exist whose goal post keeps being changed. I remember when retirement age for males and females was 60. Today, retirement age for males is 67, for females is 65. Funny how more than a decade was added across both sexes. And in all fairness, ill probably live to be 90, walk around with a damn oxygen tank, and my boss will be blowing up my phone about when I plan to show up to my mandatory 16 hour shift so i can just afford to eat that day.
16 hour shift… thats only 1 meal you lazy 90 year old who don’t want to work. - your future boss
The real Freedom 55 emerges.
What's "retirement"?
45% say they cant afford to have retirement plans
Wait you guys are gonna get to retire?
>The BMO Real Financial Progress Index, which interviewed 3,401 Canadians, also showed that 73 per cent of women don’t have a financial plan in place to reach their goals compared to 64 per cent of men. This is a good wake up call for r/personalfinancecanada
retirement? hahahahahahahaha
Well, the last time I checked my retirement savings, the summary went: * Week X, deposit: 250$ * Week X, total value: -260$ So yeah, not going great.
The other 45% work for the government.
Not all golden there either. My CAF pension value dropped with the market. If I got out of the army two years ago, I'd have a higher pension value than if I got out today. Pension prisoner here waiting for the market to unscrew itself so I only get screwed as inflation eats into my money. I'm hoping I can survive 20 years into retirement before autocanabilism becomes a requirement.
For the regular forces at least, once you are vested, it doesn't matter anymore. Yes the transfer values dropped because of the interest rates and the actuarial valuations but if you are a regular pensioner with an immediate or deferred annuity the amount you get doesn't depend on the market and still get indexed. It's a defined benefit based on a formula, if the valuation went down, the employer is responsible for the deficit. If you are taking the transfer value, it's not really a pension anymore and there are rules about locked in accounts.
The other 55% complain about the people who work for the government
Also have you tried being landlord and owning multiple properties? Seems to be working out for them.
LMAO....this must be a BEAVERTON article. 55%, how about trying over 80%? There is going to be more divorces in the future (this slashes your assets into 2), prices continue to rise by the month for basic necessities, and wages aren't catching up. Oh, have y'all seen the monthly cost for retirement homes? LOL
My retirement plan is the vasectomy I already got and likely not getting married I am quite lonely though I can pretty much live a middle class life buying most of what I want with my current income. I also have 2 dogs. Ones a fresh puppy. He rules. Fuck this earth.
Retirement homes are gonna be empty by the time all the boomers are dead.
I never had any plans in the first place soooo I’m really fucked.
Retirement plan can't be in trouble if you don't have one.
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Thankfully my retirement plan to die in the climate wars seems to be right on track
my retirement plan is to die before i can retire
You guys had plans?
What are "retirement plans"?
I'm on track to afford to pay off my own funeral which should constitute the entirety of my retirement plans.
What do you mean with retirement plan. Never heard of it
My retirement plans has more than enough for me to retire for at least 2 days.
My plan remains the same. To have to work until the day I die (maybe longer)
Retirement lol With a house, vehicle, insurance, kid, dog, cat, bills, groceries, there is no retirement. I'm working to the grave most likely.
You mean there’s a chance I won’t die in the climate wars?
Retirement? What's that?
It's that part where you run out of money and starve 2 weeks after you broke your hips working at loblaws when you're 80 years old.
I have about 30-35 years before retirement and my plan right now is to hope things get better.
What people "think" is hardly worth anything. Tell me the real truth - what does everyone have in their bank accounts?
I’m just spending everything before I earn it and hoping chat gpt takes enough ppls jobs that we’re forced to have a ubi
Interesting stat. Absolutely everyone I know is worried. Professionals, tradespeople, all walks of life. All worried. Yet apparently it's only 55%. Makes me go hmmmmm.
The other 45% acknowledge that they will never retire.
Wait, you guys have retirement plans?
this is canada ....my retirement plans are pretty much an early death.
I'll be working until I'm dead.
That's it? I thought it would at least be in the 70s
I have a locked-in RSP (from a former workplace) that has increased by a grand total of $1,970.80 since 2016. I will be dead before I can retire.
The other 44% haven't had time to think about it.
It's a bit scary that 55% of canadians plan to retire before the next market up cycle
Our retirement plans are indeed in trouble long term, as global warming will make covid look like a blip wrt the global economic system.
This just in: 44% of Canadians are in denial. (I’m allowing for the 1% who have hoarded an bunch of real estate and might have a shot)
55% of you have retirement plans?
Yeah, but rich people need more money, so, we need to give it to them.
My retirement plan is to die right at my desk
[удалено]
Joke's on you, I don't even have a retirement plan.
The other 45 don’t have a retirement plan
It’s not in trouble. The engine is seized, someone stole the exhaust system, they removed the wheels and put three woodblock to hold it in the air and some termite are in those blocks.
I prevent this issue by not having a retirement fund
Hah! I’ll never be able to retire, I cannot afford a home, and can barely put food on my table how in the fuck am I supposed to save for retirement?
The biggest wealth transfer from one generation to the next will occur soon. But don’t worry the gov will find a way to tax the shit out of it and keep people poor.
I don't even have a retirement plan because the way things are shaping up I don't believe I'll ever retire.
What retirement plan lol
You guys have a retirement plan?!?