How much money do you need to retire?

Although the official amount differs, on average retired Canadians are living on 62% of what they earned before leaving the workforce. This equates to an average of $3,431 each month on food, housing, health care, leisure, and more. If this doesn’t worry you, you’re not alone. Almost 9 in 10 Canadians they feel positively about their retirement. But how concerned should you be?

Retirees spend differently as they grow older, and so will you. It is sometimes difficult for younger Canadians to fully grasp the importance of getting on the path of financial planning early to ensure your insurance, investments, and other financial processes are in place. Need help getting started? Contact Brown Financial today.

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