YOUNG CANADIAN ADULTS PREPARE TO RETIRE LATER

Aug 01, 2012

By Jane Brown

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We’ve all said at one point that we’d like to retire early, but how many actually save for it? A new study finds that 4 in 10 young Canadian adults between the ages of 18 and 34 want to retire by 60.  But just under 6 in 10 are planning to work longer, until the age of 69. While more than 6 in 10 have started at least saving “something” for retirement, less than 3 in 10 haven’t saved a cent. Tina Di Vito, the head of the bank’s Retirement Institute, says many young people put off saving for retirement because they have more immediate expenses. But Di Vito says they should see retirement planning as an immediate concern too.

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