A TD survey finds that 53 per cent of Albertans say it is not easy to save for retirement.
Nationally, 61 per cent of Canadians felt that way.
The survey looked at a number of future goals for Albertans and Canadians. The percentage of people saying it was not easy to save for certain goals was:
Children’s Education: 25 per cent Alberta, 68 per cent Canada
A home: 43 per cent Alberta, 60 per cent Canada
Big-ticket items, such as a car: 53 per cent Alberta, 58 per cent Canada
“Making the decision to become financially fit is a lot like setting physical fitness goals – everyone’s individual circumstances and their financial goals are unique,” said Linda MacKay, senior vice-president, retail savings and investing, TD Canada Trust, in a news release.
“But whatever the goal, the first step is building a realistic plan to get there, followed by committing to stick with it, reviewing progress on a regular basis and making little tweaks along the way.”
According to TD’s research, the most common definition of financial fitness is not having any debt, followed closely by not having to worry about finances on a day-to-day basis. Being on track with retirement, education or other savings is third, along with being able to afford the lifestyle people want and having an emergency fund equivalent to three-months of salary.
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