I recently discovered that "32 per cent of Canadians (I bet it's the same in the USA) do not have a plan in place to achieve their savings goals."
Oh, 99 per cent of us have goals (e.g., "To retire at 55." "To have money in the bank." "To clean up the garage.") but no plan.
Maybe 32 per cent of Canadians just think retirement happens and the money will be there to buy the shop vac to help clean up the garage.
32 per cent of my fellow countrymen would be wrong.
More seniors are working longer and harder due to financial necessity. More grown-ups are living at home longer with their aging parents. It ain't looking good out there for happy, comfortable retirements.
More and more people need to be setting aside 'rainy day money.'
I suggest folks talk to someone at their bank. Then arrange to withdraw $10 per week or $45 per month automatically to go into a Rainy Day account.
Automatic withdrawals are very important. The Rainy Day account gets paid first, the new shoes or funky hairstyle or impulse buy has to wait. (Really. How many garden gnomes or electric edge trimmers does one person need?)
Me? I'm going to put money into a recycled peanut butter jar.
(More about that later).
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