Retirement proving too pricey for many Canadians

A new study reveals that nearly a third of Canadians are going forced to return to work to pay the bills. 

The major reason

TORONTO - Nearly a third of retired Canadians, or 30 per cent, have returned to work and a major reason is that they misjudged how much their expected life of ease would cost.

Two new online surveys from ING Direct found that the divide between how much people saved, and how much they actually needed, was too wide to handle without a paycheque.

The surveys portray a notable disconnect between Canadians' expectations of life after the workforce and the reality of the cost.

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Young savers using TFSAs to purchase homes: survey
Younger Canadians, more than ever before, are using their Tax-Free Savings Accounts (TFSAs) to save money to buy their first home.

Bank CEOs refocus priorities as Canadians borrow less, turn to saving

TORONTO - Canada's biggest banks say consumers are reaching the limit on how much they can afford to borrow, and that's likely to slow loan growth this year.