Description: The popular theory is that Canadians are starting their savings plan for retirement too late, and thus they are not putting enough in the bank for the days when they will no longer be working. A new survey is showing though that procrastination may not be the biggest problem people have in trying to tuck enough away to retire on. Big life shocks – like disability or divorce – seem to play a prominent role in derailing retirement success.
Date: January 16 , 2019
1) Do think Canadians are saving enough for the future?
2) What do you think can be done to “nudge” people to save more?
3) Which of the principles of managing cash as per pages 381-2 in Wiley’s Financial Accounting: Tools for Business Decision-Making might be used to help Canadians better manage their savings plans?