How much should Canadians save for retirement?

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How much should Canadians save for retirement?

Rounding it up

  • Canadians should aim to save at least 10 to 15% of their pre-tax income for retirement each month.

  • Saving for your golden years requires frequent contributions to an RRSP or a similar tax-advantaged retirement account.

  • When planning your retirement savings strategy, consider other potential sources of income, such as other investment accounts, rental income, and employer or government pensions.

  • The earlier you can start saving for retirement, the better; there’s no better time to start saving than right now.

8 min read

Gaby Pilson
#retirement#savings#RRSP

Gaby Pilson

Gaby Pilson is a writer, educator, travel guide, and lover of all things personal finance. She’s passionate about helping people feel empowered to take control of their financial lives by making investing, budgeting, and money-saving resources accessible to everyone.

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