As we enter the last few days of RSP season, the topic of retirement finances is top of mind. Investment managers and banks are sampling public opinion on attitudes towards retirement saving, about our readiness to retire and broad questions about personal finance.
One of those surveys comes from RBC Insurance. It focused on women, specifically mature women, asking them about whether they were confident about their financial future. The findings have some interesting nuggets.
One example is that about half of women in the 45-plus age category have received an inheritance and most of the other half expect one in the future. It has prompted more than 80 per cent of the respondents to say they hoped to leave a financial legacy of their own.
While more than 90 per cent say they have a good handle on their finances, a significant number said they worry about being able to maintain their lifestyle if they lose their spouse. But one of the nuggets is that this concern rises among those aged 45-54, but then declines again after age 65.