Your home may not be the best retirement nestegg
CBC’s Easy Money weighs the choice between paying for a mortgage or saving for retirement for today’s cash-strapped Canadians in their 20s and 30s.
For many Canadians in their 20s and 30s, there appears to be a choice between having a home of their own or saving for retirement.
With house prices taking an increasing share of their income, most cannot see their way to saving for retirement at the same time, especially if they have young children.
Can their home be a means of supporting them in retirement?
Some experts might lead them to think so, but CBC’s Danielle Bochove investigates the pitfalls of those claims in this edition of Easy Money.
Will your home's value necessarily continue to climb? How will you get your money out? And how much do you really need in retirement?