I don't understand those peoples' logic. Why can't they stay active and satisfy their social life by playing golf and going hiking and taking vacations? If I won the lottery tomorrow I would find a million things to do and none of them would involve working. Someone once said that only boring people are bored in retirement.
Originally Posted by MoneyGal
The first article states that almost half doesn't have $100 000 saved. Which means that over half have $100 000...
Originally Posted by Sherlock
Now my standards are pretty high and at first I thought :"What have they been doing with their money?". Then I realized, hey $100 000 is a lot. Then finally I realized something else. They are probably only talking about pure cash reserves. So the situation might be better.
Really, a definition of what constitutes "money saved" have to be written first. Is RRSP part of the equation? TFSA?
I assume 100k means all their liquid assets, ie all bank accounts, tfsas, rrsps, etc, and probably even any real estate they own other than their primary residence, which can't be counted because you need it to live in, although many people downsize to a cheaper home when they retire and use the difference to fund their retirement.