Posthaste: Canadians fear a retirement crisis is brewing as interest rates rise

Rising interest rates and inflation, combined with housing woes, are fuelling worries that a retirement crisis is brewing in Canada, with younger generations standing to suffer the most, new research from a pension plan suggests.

Prices are rising on everyday items and it’s making Canadians nervous that the worst is yet to come. Eighty-eight per cent expect the cost of living to keep rising as interest rates march up and inflation soars. As a result, retirement savings are on the line and already taking a hit for some. Among Canadians with jobs, 38 per cent have stopped saving for retirement completely in the past year as costs increase. Another 32 per cent don’t have anything saved at all.

The outlook is especially dire for Canadians under the age of 35, HOOP said. Unable to get into the housing market amid rising debt costs, younger Canadians are abandoning homeownership as a retirement savings’ vehicle, just as economic conditions make it harder for them to sock away cash.Article content

When it comes to homeownership, three-quarters of Canadians under 35 are worried high interest rates will keep them out of the market or put monthly mortgage payments out of reach. They are also concerned about the impact of higher rates on their ability to save. Eighty-eight per cent fear high interest rates will dent their retirement piggy banks.

Source: Loan Digest (loandigest.net)

And our PM is globe trotting giving away our tax dollars.

TurdoSauron pension is millions per month

In US, ~5M people who got the vaccine are now unable to work and ~750,000 are dead. The rate of heart issues is 6.6%, far more than they claimed. No wonder our government isn’t doing these surveys!

Retirement isn’t an entitlement and I’ve heard that boomers were all great savers.

🇨🇦 openly investing in 🇨🇳 Yet China’s systematic persecution of the Uyghurs is recognized as genocide by Canada. “As of Sept. 30, 2020, CPP Investments had invested more than $55-billion in Chinese companies, about 12 per cent of their total assets”.

Consider this… CPPIB (as of 2019) has 8 percent of its funds invested in China and has previously indicated it plans to increase that significantly in the next few years. That’s 43 billion Canadian dollars sunk into a county which openly threatens global stability.

Interests rates rising is not a bad thing for those of us who lived within their means, paid off their mortgages and didn’t t buy a new vehicle every three years! Inflation sucks, but anybody with a brain knew Zippy’s policies were going to cause this eventually…

The 'elites' are essentially psychopaths who don't care who dies as long as they are comfortable. Destroy their comfort, crush their resistance and make them beg for mercy, or suffer. Mass mobilization, general strikes and direct action. Grow a spine, win a future.

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Inflation drives Canadian consumer confidence to crisis-era lowsCanada’s households are beginning to buckle amid the weight of rising prices, higher interest rates and a housing correction Highest in decades thanks to corruption and Justin Trudeau Not sure why 'inflation' is blamed 4 low consumer confidence? Inflation is deliberate [policy 2 print money/spend] doesnt happen by itself. Is it more accurate 2 interpret 'leadership' drives consumer confidence to an all time low? PM warned incoming food shortage but crickets? 'We did that'.....
Source: nationalpost - 🏆 10. / 80 Read more »

Inflation drives Canadian consumer confidence to crisis-era lowsCanada’s households are beginning to buckle amid the weight of rising prices, higher interest rates and a housing correction financialpost Please STOP Calling employee back to the office to lower Gasoline demand to help BOC tame inflation. letremoteworkingcontinue RBC cibc nationalbank TD_Canada CIBC_US bankofcanada JustinTrudeau CBCNews globeandmail globalnews CP24 scotiabank fordnation CTVNews financialpost financialpost Canada has a lot more than inflation to worry about.
Source: nationalpost - 🏆 10. / 80 Read more »

Inflation drives Canadian consumer confidence to crisis-era lowsCanada’s households are beginning to buckle amid the weight of rising prices, higher interest rates and a housing correction financialpost Why would anyone have confidence in the muppets cranking the money printer? The public is incredibly naive.
Source: VancouverSun - 🏆 49. / 61 Read more »

Politics This Morning: Trudeau, Anand, and Joly head to Spain for NATO meetingsBank regulator to brief media on mortgages and home equity loans, as homeowners are hit by the effects of rising interest rates.
Source: TheHillTimes - 🏆 11. / 79 Read more »

Asian shares track Wall Street drop as inflation fears drag onShares skidded in Asia on Wednesday after another broad decline on Wall Street as markets remain gripped by uncertainty over inflation, rising interest rates and the potential for a recession.
Source: CTVNews - 🏆 1. / 99 Read more »

Opinion: We need the oilsands. But not just the oilsandsA lack of diversification in the oil sector may not serve Canadians’ longer\u002Dterm interests
Source: nationalpost - 🏆 10. / 80 Read more »