Canadian Banks | Forums | Terms of Use

Welcome to the Canadian Financial Forums forums.

You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

If you have any problems with the registration process or your account login, please contact contact us.

Go Back   Canadian Financial Forums > Canadian Financial Forums > Retirement, RRSP & CPP

Reply
 
Thread Tools Display Modes
  #1  
Old 10-10-2008, 03:49 PM
sunshine sunshine is offline
Member
 
Join Date: Jun 2008
Posts: 62
Default postpone retirement

Did you read in Maclean’s "What just happened to your retirement?" Do you think people should be forced to work longer and postpone retirement? With the market meltdown are we going to lose our savings?
__________________
sunny
Reply With Quote
  #2  
Old 11-05-2008, 07:11 PM
trent trent is offline
Senior Member
 
Join Date: Jun 2008
Posts: 387
Default

I'm sure that many Canadians will never able to retire. Although this is a sad fact, we still need to move forward and get rid of the huge amounts of debt burdening the average Canadian.
__________________
No debt
Reply With Quote
  #3  
Old 11-06-2008, 10:13 PM
Canadian Canadian is offline
Senior Member
 
Join Date: Jun 2008
Posts: 415
Default

Yes saving money and getting out of debt are the most important factors affecting one's financial health.
__________________
Bear with me please
Reply With Quote
  #4  
Old 11-13-2008, 04:17 PM
dreamy dreamy is offline
Member
 
Join Date: Jun 2008
Posts: 34
Default

Quote:
Originally Posted by sunshine View Post
Did you read in Maclean’s "What just happened to your retirement?" Do you think people should be forced to work longer and postpone retirement? With the market meltdown are we going to lose our savings?
I don't know what happened to other people's retirement savings but I know I have to work for many years to come to even think about saving money. The government tax us to death and then when it is time for retirement they give you peanuts. In Europe they pay high taxes but at least they have proper pensions...
Reply With Quote
  #5  
Old 11-14-2008, 09:04 PM
bullish bullish is offline
Senior Member
 
Join Date: Jul 2008
Posts: 155
Default

I'm not planning to postpone my retirement, on the contrary I'm planning to retire earlier. Right know I see lots of bargains on the stock markets, which will be 2-3 times higher in a few short years. They will fund my retirement just fine .
Reply With Quote
  #6  
Old 11-17-2008, 03:15 PM
Steven Steven is offline
Senior Member
 
Join Date: Jul 2008
Posts: 139
Default

Not everybody can afford to wait out a few years - think about the people retiring this year or in the next two. Furthermore there is no guarantee that the stock market will recover even in 5 years. If things get worse from here, the stock market may get much lower in 5 years compared to today.
Reply With Quote
  #7  
Old 11-20-2008, 08:01 PM
Canadian Canadian is offline
Senior Member
 
Join Date: Jun 2008
Posts: 415
Default

You are right Steven. Imagine the total panic the baby boomer must be in, with the collapsing stock markets. They see their wealth evaporating at rapid speed, and the survival instinct takes over. From this point is only SELL, SELL, SELL.
__________________
Bear with me please
Reply With Quote
  #8  
Old 12-09-2008, 02:51 PM
sunshine sunshine is offline
Member
 
Join Date: Jun 2008
Posts: 62
Default

Quote:
Originally Posted by Canadian View Post
You are right Steven. Imagine the total panic the baby boomer must be in, with the collapsing stock markets. They see their wealth evaporating at rapid speed, and the survival instinct takes over. From this point is only SELL, SELL, SELL.
Yes, most people lost so much money on the stock market and their retirement savings disappeared... I'd hate to be a retiree at the moment. A lot of people can't even afford to retire.
__________________
sunny
Reply With Quote
  #9  
Old 12-10-2008, 03:38 PM
BankAdmin BankAdmin is offline
Administrator
 
Join Date: Jun 2008
Posts: 22
Blog Entries: 4
Default

Quote:
Originally Posted by sunshine View Post
A lot of people can't even afford to retire.
I also think that many people will not only postpone their retirement, but won't be able to retire at all, which is really sad.
Reply With Quote
  #10  
Old 12-11-2008, 03:31 PM
Jason Jason is offline
Member
 
Join Date: Jul 2008
Posts: 64
Default

It will depend on your age. I still think if you are younger than 50, have a stable job and a solid savings plan, you'll be able to retire comfortably.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT. The time now is 03:05 AM.


Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2017, vBulletin Solutions, Inc.