Courtesy: Global News
For many Manitobans, the road to a comfortable retirement is becoming longer and more difficult. If you’re living paycheque to paycheque and not saving as much as you’d like, you’re not alone. In Manitoba, 54 per cent of respondents said they’re living paycheque to paycheque. Furthermore, the CPA said 32 per cent of people would find it tough to come up with $2,000 in an emergency. Nationally, nearly half of Canadians report they would struggle to meet their financial requirements if their paycheque was delayed by one week.
With the amount of debt most Canadians are carrying, saving for retirement has become increasingly difficult. The study suggests a large majority of working Canadians have fallen behind their retirement savings goals. In Manitoba, 74 per cent said they have only saved one quarter or less of what they feel they will need to take care of themselves in the future. According to CPA, 45 per cent of people in Canada will end up working longer than they originally planned half a decade ago because they’ll need to keep working to save more money. More than 5,000 employees from across Canada took part in this study.
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