Posthaste: Baby boomers are increasingly worried about their finances heading into retirement

Baby boomers say they’re feeling more nervous about their financial security following the pandemic.

A new report from the National Institute of Ageing (NIA), in collaboration with HomeEquity Bank, finds 77 per cent of Canadians aged 55-69 are worried about their finances. Women are especially anxious, with 79 per cent saying they’re more concerned about money now and in the future than they were pre-pandemic. That compares to 71 per cent of men.

There might be reason to worry, the report points out. Housing, education and child-care costs have been rising for years, even before a recent climb in inflation that’s forcing Canadians to pay more for things like groceries and gas. People are also more likely to be carrying debt in their pre-retirement years.

READ MORE HERE