A recent report by McKinsey and Co. shows that older and affluent Canadians will have more trouble maintaining their lifestyle into retirement than poorer citizens that rely on government programs, according to Monevyille.ca.
The report concludes the Canadian retirement system is "in a stronger position than many of its global peers." Affluent Canadians are predicted to maintain their lifestyle at a lower rate than poorer citizens, which at first seems backwards. However, the richer citizens studied in the report have to spend more in order to keep their lifestyle uninterrupted. The poorer Canadians, meanwhile, can rely on government programs and do not have to spend as much to maintain their modest lifestyle.
According to report author Fabrice Morin, the study did not look at whether Canadians would struggle from a financial standpoint. In that sense, most affluent Canadians would be fine.
Aging may require Canadians to make some adjustment to their lifestyle, whether this means moving into a smaller place or joining a retirement community. One way for seniors to hold on to the items they've accumulated throughout their life is through a Toronto self storage facility. There are many options for affordable self storage in Toronto and other Canadian cities.
Self storage can be a smart way to hang on to valuable items without taking up room in a house or apartment. For Toronto storage solutions, there's no better than Jiffy Self Storage. Those interested in self storage should check out the affordable rates on Jiffy's website, where they can also enter to win a free iPad 3.
