Wednesday, December 16, 2009

Retirement Sayings about Retirement Savings

Fewer Canadians are putting money into retirement plans, according to the Royal Bank's annual RRSP poll.

At the same time, the Toronto Star says, "Canada's pension system is inadequate and lags behind other advanced industrial countries in providing decent income security for retired workers. "

The RB annual RRSP polls says 32 per cent of Canadians have not started saving for retirement yet, compared to 24 per cent in 2008. The study also found only 36 per cent say they are planning or have planned for retirement, down from 42 per cent in 2008.

The decline is sharpest among those aged 55 and over, with 53 per cent doing any retirement planning compared to 67 per cent last year.

RBC also says just 35 per cent of Canadians have contributed to or plan to contribute to an RRSP for the 2009 tax year - the lowest percentage of contributors since 1996.

Here are some retirement sayings and retirement quotes to place retirement planning in perspective:

    I retired early for health reasons — my company was sick of me and
    I was sick of them.
    — Unknown wise person

    I’m now as free as the breeze — with roughly the same income.
    — Unknown wise person

    I’m retired. You on the other hand have to go to work.
    — Unknown wise person

    The money’s no better in retirement but the hours are!
    — Unknown wise person


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