15 Interesting Financial Statistics

Hey everyone,

I recently read an interesting article, titled '15 Interesting Investment, Personal Finance and Retirement Statistics [Canadian]', that listed some very informative financial statistics.

For those of you who would rather just get the gist of the article, I have listed the statistics below. As always, I wish you all the very best in you endeavors.

- Only 38% of Canadians contributed to a Registered Retirement Savings Plan (RRSP) before the March 1, 2010 deadline (BMO – March 2010)

- 68% of Canadians haven’t opened a Tax Free Savings Account (TFSA) (Mackenzie Investments – February 2010)

- 53% of Canadians 55 years of age and over have not done any retirement planning (RBC – December 2009)

- Only 34% of Canadians reported having a financial plan (BMO – February 2010)

- 30% of Canadians expect that they will have to work after retirement (Investors Group – November 2009)

- 20% of Canadians are counting on the Canadian Pension Plan, a lottery win or an inheritance, instead of contributing to an RSP (TD – February – 2010)

- 37% of Canadians plan to delay their retirement, up from 28% a year ago (Investors Group – November 2009)

- 40% of both retirees and pre-retirees are concerned about maintaining their standard of living (RBC – January 2010)

- 48% of Canadians who are still in the work force are worried about not having enough savings (RBC – January 2010)

- One in five (18%) Canadians do not know what they hold in their investment portfolios (BMO – February 2010)

- 58% of Canadians who know what investments they hold think they are not on the right track (BMO – February 2010)

- 25% of Canadians feel they have enough money to fulfill their retirement dreams (RBC – January 2010)

- 21% of Canadians say they definitely did not save enough money for retirement (TD – February 2010)

- 75% of retired Canadians don’t know how much they spent in their first year of retirement (RBC – January 2010)

- 52% of retired Canadians felt they spent more than they expected in their first year of retirement (RBC – January 2010)