Canada’s Retirement Crisis Is Worse Than You Think: Are You Next?

Canada’s Retirement Nightmare! Are Canadians facing an unprecedented Retirement Crisis? In this compelling video, we dive deep into the Retirement Crisis in Canada, uncovering the factors that threaten the financial security of millions of seniors. From an aging population and insufficient pension systems to rising cost of living and inadequate retirement planning, we explore the multifaceted challenges that are putting Canadian retirees at risk. Learn how government policies and economic shifts are exacerbating the situation, and discover what steps individuals and communities can take to navigate this looming crisis. Whether you’re nearing retirement or planning for the future, understanding the Canadian retirement landscape is crucial. Join us as we analyze expert insights, real-life stories, and potential solutions to mitigate the impact of this crisis. Don’t let uncertainty cloud your golden years—stay informed and empowered by watching this essential guide on the Retirement Crisis in Canada.

0:00 - Introduction
1:18 - #1 The Growing Retirement Crisis
4:06 - #2 The High Cost of Living
7:12 - #3 Underfunded Pensions and Limited Savings
10:34 - #4 Retirement Destinations: Alternatives Outside Canada
14:06 - #5 The Impact of Canada's Aging Population
18:42 - Conclusion

[discoverglobeliving]

this hits home! My uncle in Toronto always talks about how tough it is to save for retirement with everything getting so expensive. Great breakdown—really makes you think about planning ahead

[RichardSmith-tl]

I’m worried about retirement planning and I want to ensure a comfortable future. I’ve worked hard my entire life and I want to enjoy the fruits of my labor without financial stress. I’m really concerned about whether I’ve saved enough and invested wisely.

[markm]

You say that Canadian HC is one of the best in the world??? You must be joking. It simply sucks

[cubabound]

Most can't afford to retire now, but we pay for thieves in government 2.3+ million in pensions payouts for "6yrs of service".

[DavidWootton-ydws]

I had no debts, my house was paid off and I've been retired 24 years! My retirement has been the best time of my life Ive been to Portugal 7 times and New Zealand 8 times! At 81, I feel that I am going to make 100!

[self-helpcorner]

Retirement is a modern term. People used to work their whole lives. My grandparents did. Pensions from government should be enough if they had not squandered our money and mismanaged our country giving away immigrants and refugees millions of dollars incl pension funds.

[johnlockett]

I do not agree with your assessment of Canada Pension plan. To save for you old age is your responsibility not the Government of Canada. I am 84 and I have some savings a my Pension Plan and is adequate for our needs. The key is to retire without any debts. All Loans and Mortgage pay of and live within your limits. All cars pay of. and a. simple life without expensive and luxurious things. Do your travelling within your means. The key is not to imitate other people or want things that out of your limits. Be yourself and happy with what you have. Other people are that what they are: other people.

[vrado]

In BC you can't find family doctor and have to wait 26 weeks to see specialist average.To have surgery wait is months and years?So much for "health care"?

[Robert-mi]

I'm 62 and have now worked in industrial cleaning, and janitorial services. I am now skilled and highly sought after, so I am paid well, work full time, and have excellent benefits. Also, I have my security licence and can work as a security guard. I don't care if I work until I die. I'm just grateful to have a roof over my head, and some healthy food to eat.

[JeerangAmjaeng]

Thailand health care service is top 5 of the world and costs are really reasonable.

[franklobe]

Even if it were affordable to retire in Canada, would it make sense to do so? There are many places in Europe that have half the cost of living and equivalent infrastructure. Not to mention better weather. Take the south of Spain as an example. Almost half the cost of living, which means twice the lifestyle for the same amount of money. Three hundred and thirty days of sunshine per year with no snow. A developed European economy with excellent; health care, transportation, energy, telecommunications, banking. Lower crime than cities like Toronto and Vancouver. The ability to easily travel within Europe. Spain is just one example. There's many more like Montenegro and Slovenia.

[Joeym]

CPP was designed to provide only a portion of your retirement income. Which is why there are other retirement savings vehicles - RRSP TFSA LIRA etc. Actuaries estimate that CPP has funds to remain solvent for another 70 years. Beyond that will require some combination of increased contributions or reduced benefits.

[sothilingamnagalingam]

I am in Canada 30 years working.i got month 850 dollars.nasty country.for seniors nothing good

[DGardhouse]

Retiring in Canada and being able to afford, it is nothing new. My grandfather retired to Costa Rica where he was able to live like a king on Canadian dollars.

[eddie-xils]

Left Canada for the U.S. many years ago and have never regretted it. In the U.S., we have Social Security that's funded by the individual and employer. This was enacted by Roosevelt in
1935. A person earning enough to pay maximum for most years as of today would receive around $4000 a month and if his wife has never worked would receive half her husband's
Social Social or $2000 a month. If the wife worked and earned maximum for most years she'd also get $4000 a month. Like Canada there's fundability monetary problems since people are living much longer. I nelieve most countries are facing this problem.

[SofiaSmith-vb]

Hit 200k today. I'm really grateful for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in March 2024

[pinoyako]

I am not sure what my retirement years look like when I reach it here in Canada. I must live somewhere.

[lawrencerobles]

I also know a lot of people who do not save at all. They spend all they have on alcohol or cigarettes. Some people have not worked. Day in their lives.

[TheHavanian]

In general CPP is around 500 dollars. Maybe very few their CPPs is 1000 dollars per month. I know many people and there CPPs are only between 200 to 300 dollars per month.

[RobertLeroux-bv]

DO NOT count on what WILL BE considered Government handouts aka pensions. Plan on uncertainty, COUNT ON yourself never lose hope.