In this conversation Smart Prosperity Institute economist Mike Moffatt and journalist Cara Stern talk to certified financial planner and founder of the New School of Finance Shannon Lee Simmons,  about saving for retirement.

Canada’s National Institute for Aging recently did a survey of 6,000 older Canadians to find out how they feel about the prospect of retirement. The results were definitive. Most survey respondents, all of whom are 50 or older, do not feel that they are financially secure enough to be able to retire when they want to. 44 percent of them had not put away any money for retirement in the last year and another 44 per cent of the 55-65 age cohort  had less than $5,000 in savings. 

Cara, Mike and Shannon dive into why that is, what role home ownership plays in saving for retirement.

More reading:

New School of Finance

Perspectives on Growing Older in Canada: The 2023 NIA Ageing
in Canada Survey

The Healthcare of Ontario Pension Plan (HOOPP) commissioned Abacus Data to conduct its fifth Canadian Retirement Survey in the spring of 2023.

An American perspective

Shannon Lee Simmons’ books

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.