The short answer is yes. Retiring at 55 or even a younger age is certainly still possible but it’s also much more difficult than it used to be. When I got my first job as a teen, my father insisted on me putting $50 from each pay cheque into an RRSP. I didn’t like it but I did it and boy am I glad he got me started on something that became a lifelong habit. Oh sure, there were times when I had nothing to deposit. But there were also times when I was able to play catchup and put away a bit extra. The key is I started early. Most people are starting late. According to Deloitte, only 14% of near-retirees in Canada can retire confidently with 55% saying they’ll have to make lifestyle compromises to avoid outliving their financial savings. That number increases to 73% when factoring in unexpected expenses. Times are tough, I know. But please take some advice from my dad Gordon and get started right now putting away even a small amount for your retirement. If you can do that and keep doing it on a regular basis over the years, you’ll sleep better at night as you approach the age you hope to retire at. Wouldn’t it be........

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