A little over two years ago, Daniel Kahneman wrote a seminal book on human behaviour and perceptions, titled Thinking, Fast and Slow. In the book, Kahneman makes the following observation, “A reliable way to make people believe in falsehoods is frequent repetition because familiarity is not easily distinguished from truth.”I would submit that this phenomenon is the basis for the widespread belief that Canada is suffering a national retirement crisis. The frequent repetition in the media that Canadians are not preparing themselves adequately for retirement certainly has to colour our thinking on the matter.
Statistics Canada says total contributions to RRSPs amounted to $35.7 billion in 2012, up 3.8% from 2011.
Sixty-five percent of Canadians made a contribution to their RRSP before Monday's midnight deadline, according to BMO Financial Group.
Ambachtsheer's proposed retirement income fix.
The median net worth of Canadian families has increased, partly due to the increase in financial assets.
A CIBC poll conducted by Harris/Decima just two weeks before the March 3 RRSP deadline finds that 31% of eligible Canadians have left their planned contributions for the 2013 tax year to the last minute.
With the RRSP deadline fast approaching, Canadians are trying to scrape together some money to make a contribution.
With a longer life expectancy than men, women in Quebec can look forward to more time to enjoy their retirement. However, their aversion to investment risk during their working years may hamper their retirement plans.
After lengthy negotiations, Canada and the United States have signed an intergovernmental agreement under the longstanding Canada-U.S. Tax Convention.
Canadians plan to contribute more to their RRSP, according to a poll.