Quote:
Originally Posted by Young-Sneezy
misery loves company at 1:30 am, hey?
some of those stats seem a bit.. awkward...
40 percent, of employees, aged 55 to 65...are a quarter of the way to their retirement goal?
i dont think that Canadian debt is a joke, or a non issue...i just think sometimes people can reach for certain stats to gain peoples attention to an issue.
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No kidding. That stat kind of neglects the portion of the population that is already retired between the ages of 55-65.
http://en.wikipedia.org/wiki/Retirement
This Wiki article doesn't list Canada, but we can compare some of the first world countries used and assume Canada is in the same ball park.
According to the article about 25-30% of employees are retired by 60. By the time a person reaches the age of 64, there is only around a 30% chance they are still working.
So this 40% of employees still working between the ages of 55-65 that are having trouble saving for retirement actually only makes up probably 25% or less of the potential workforce which sounds about right.