Now that the baby boomers are starting to retire it seems they’re not as good at it as they thought they would be. Record levels of debt and a sense of entitlement have left many with a retirement income gap they’re scrambling to fill. We used to aim to have our mortgages paid off by the time we swapped paycheques for retirement income. The lesson: You’re going to have a lot of demands on your money over your lifetime: retirement savings, educational savings for your kids, mortgage repayment. And in the meantime, saving aggressively and paying off your mortgage means you’ll have more financial security.

Source: thestar December 03, 2017 11:15 UTC