All the Time in the World?

With 16 or more years to go before they leave work, the Dreamers cohort may feel like they have all the time in the world to prepare for retirement. As a result, according to our 2007 national retirement survey, only half have created a retirement savings plan. That’s despite the fact that this group expects to live to an average age of nearly 83.

Rethink Savings

Many of the Dreamers are in a good position to save money for their retirement. For example, 74% have a household income over $70,000 and 78% have personal debt of less than $25,000.

Yet, on the savings side, just one-half (50%) have saved more than $100,000.

What about you? Have you taken stock of your financial situation lately? Assess your situation with our Retirement simulator!

Vital Statistics
 

• Contribute to a group savings plan at work: 43%
• Covered by a group insurance plan: 72%
• Have a retirement savings plan: 50%
   

Source: Desjardins Financial Security Retirement Survey, 2007

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