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Common risks to retirement, investing and financial freedom

– moneysense.ca

No matter what stage of financial planning you are in, it is important to be aware of and understand the common risks to your retirement plan and financial stability. The Toronto Star published the following chart showing reasons why Canadians delay their retirement:

While enthusiasm may be necessary for great accomplishments elsewhere, on Wall Street it almost invariably leads to disaster.
—Benjamin Graham

Inflation delays retirement for half of older Canadians

Results of a survey of Canadians older than 55 conducted in June 2022.

I have delayed (or plan to delay) my retirement because…I don’t have enough savings/investments62%Rising inflation/cost of living this year54%I have too much debt 40%My children still require financial support26%I love my job too much to quit 23%The COVID-19 pandemic 21%I am taking care of my partner/spouse13%I am taking care of my partner or other family member10%

The goal of this chapter is education, which, in my mind, is key to eliminating fear of the future…

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