5 Habits of Confident Retirees

It’s easy for some people to be pessimistic about retirement. With kids to put through school, a mortgage to pay off, the rising cost of everything and growing credit card debt, many people ignore retirement planning and hope for the best. Even if you’ve already started saving, it’s hard to be confident when stock markets are volatile and interest rates are low.

But believe it or not, there’s a large group of retirees who are feeling fine about retirement. Why? Because they took specific steps that most people never do. A recent survey of more than 1,000 retired people who had government-registered savings plans (like RRSPs) reveals how they saved for retirement:

1. 90% increased their contributions when they were able.
2. 84% estimated their retirement income needs before they retired.
3. 83% reviewed their retirement strategy regularly.
4. 77% enrolled in their retirement savings plan early in their careers.
5. 73% saved the maximum amount of money permitted by their plan.

The key to a confident retirement is to start saving early, save as much as you can, take advantage of government-registered plans, and regularly monitor your progress. Doing this will influence your financial security way more than stock market performance! If you’d like to get started, I’d be happy to introduce you to one of my trusted local financial planner partners.

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