Retired Canadians are living a far more comfortable retirement than their American counterparts, according to a North American study by TD Canada Trust.
The survey found that close to 70% of Canadian retirees say their retirement is exactly or mostly what they were expected. In contrast, only 47% of Americans said the same thing. About 25% of American retirees say that they are not living their retirement dream at all and 29% of retirees say their retirement is very different from what they imagined.
With respect to their nest eggs, 38% of American retirees say they definitely did not save enough money, whereas only 21% of Canadians said the same thing. About 21% of Americans felt they did not start saving early enough, only 10% of Canadians feel the same way.
The recession also impacted the lifestyle of American retirees more than Canadians. Half of Americans are now spending less, compared to 37% of Canadians.