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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.
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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