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Life Gets in way of Retirement Saving for Xennials


For Canadian Xennials, those aged 34 to 40, day-to-day life is getting in the way of saving for retirement, says a survey from TD. Three-quarters (74%) of this micro generation say they would like to contribute more than they currently do, but everyday financial obligations take precedence. Seven in 10 Canadian Xennials (70%) feel overwhelmed due to juggling other financial obligations with saving for retirement. These include common expenses such as monthly bills, paying off credit cards and personal loans, mortgage payments, childcare costs, home maintenance costs, and repaying school loans. When asked whether they agree they are too young to think about saving for retirement, there‚Äôs a notable shift between those 18 to 34 (42%t) and those 34 to 40 (16%).  

Courtesy of Benefits and Pensions Monitor website News Alerts 

 

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