Opinion: If you’re like almost half of Canadian homeowners, you’re counting on the sale of your home to help fund your post-working years. But that strategy may not work in the current economic environment.
If you’re like almost half of Canadian homeowners, you’re counting on the sale of your home to help fund your post-working years. But that strategy may not work in the current economic environment. More than half of nonhomeowners say they are worried about their ability to buy a home.
The good news is that the solution is well understood by Canadians and would be a win-win for everyone: better workplace retirement savings plans. Two-thirds of Canadians are willing to sacrifice some of their own pay for a better pension and would look kindly upon governments and employers who made retirement security a priority.
And the majority of Canadians don’t want to do it alone. In another interesting finding from this year’s survey, 58 per cent of Canadians said they would like to have their pension dollars pooled with “as many other people as possible.” These respondents recognize the tremendous value of sharing the risk with others and having a team of professional investment experts — knowledgeable in all areas of investments and asset classes — invest on the group’s behalf.
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