Young with No Retirement Savings? You’re Not Alone

Not Everyone is a Saver

Nearly one third of young Canadians have not started saving for retirement, although a quarter of them want to leave the work force early.

Leger Marketing, who runs the online survey panel LegerWeb, conducted a poll early in the year which surveyed young Canadians and found that many have no retirement savings at all. A scary thought considering many are more worried about paying off debts than saving for retirement (as illustrated in the comments section of the original article).

Here is an excerpt:

A poll released Wednesday by the Bank of Montreal found that 27 per cent of young adults, defined as those between the ages of 18 and 34, say they have not started saving for retirement. Furthermore, only 10 per cent have “thought a lot” about how much money they will need to have stashed away for their golden years although one-quarter of them expect to retire early.

The BMO poll of 1,000 Canadians was conducted online by Leger Marketing in February.” Full story here.

This excerpt was taken from the Globe and Mail’s website on August 1, 2012.

We do hope that you, our loyal website visitors are saving for retirement! If you’d like to take part in Leger Marketing’s next study, join LegerWeb for free to register yourself as a member and earn cash rewards for completing surveys.