For the majority of women, rising healthcare costs as they get older is the main concern
According to the RBC survey, 7 out of 10 Canadian women over 45 are confident they will afford the lifestyle they want to live through retirement.
The study unveiled that a reliable level of financial awareness and independent oversight of their savings are strengthening their confidence. For example, 84% of women who are married or living with a partner believe they have a strong understanding of their and their spouse’s financial needs in retirement. Meanwhile, only 34% of the respondents say their spouse/partner looks after their retirement savings.
For the majority of women, confidence stems from relying mostly on their own devices, according to the survey. At the same time, only 9% of Canadian women are citing spousal payments, whereas 4% of them count on children or family to take care of them. Only 2% of women plan to live with friends to decrease their financial burden.
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