Post-work worries

While it’s natural to fret about retirement, the type of concern that keeps you up at night likely depends on whether or not you’re already retired, an RBC poll finds. When thinking about retirement, Canadian retirees surveyed were more liable to worry about the cost of healthcare and the effect of inflation on retirement finances than were their working counterparts, who worried most about having enough savings (see chart).

The study also asked Canadian retirees how much money they spent in their first year of retirement, but 75% had no idea. The respondents who did know spent an average of $35,395, down 30% from last year’s survey ($50,548).