08/07/2026
Why Retirement Feels Harder Today Than It Did 35 Years Ago
If you’ve ever wondered why retirement seems more difficult today than it did for your parents, you’re not imagining it.
Thirty-five years ago, many Canadians had advantages that are much less common today:
• Employer pensions were more common, providing a reliable source of retirement income.
• Housing was far more affordable compared to household income.
• Day-to-day living costs took up a smaller share of the family budget.
• It was easier for many people to put money aside for the future.
Today, things look different.
People are living longer, which means retirement savings may need to last 25 years or more. At the same time, housing costs, groceries, utilities, and healthcare continue to become more expensive.
Many employers no longer offer the pension plans they once did, so building retirement income has become a personal responsibility.
On top of that, many Canadians are paying a mortgage, raising children, helping aging parents, and managing higher monthly expenses. Saving for retirement often gets pushed to the bottom of the list.
So, what can you do?
You don’t have to save everything overnight. The important part is having a plan and giving yourself enough time to build toward your retirement goals.
Even small, consistent contributions can make a meaningful difference over the years.
The earlier you start, the more choices you’ll have when it’s time to retire.
If you’re unsure whether you’re on the right track, it’s worth having a conversation now rather than waiting until retirement is just around the corner.
