Interesting article. This quote from the article:
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According to new research conducted by CIBC, almost 6 million Canadians will face a drop in living standards of more than 20% if current savings rate trends continue. “When we look at those 5.8 million people — we see that most of them are young.
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Doesn't really mesh with this quote from Chemgear's article above:
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Incredibly, the HSBC survey suggests that 47% of Canadians age 55-64 have never saved at all for retirement.
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Because I've got to think that most people who get to 64 without saving anything are going to experience a drop in standard of living.
Maybe all generations are the same when it comes to savings, and don't want to do it.