WATERLOO, Ont. – Nearly nine in 10 Canadian homeowners surveyed recently said that being debt-free was key to their idea of a successful retirement – even more than most lifestyle factors.
Only having good health was listed by more people, according to the survey of about 2,000 Canadian homeowners conducted for Manulife Bank.
The dream of being debt-free was more important to the respondents than living near family, keeping busy with a hobby or volunteer work or having a broad group of friends.
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The poll found that 87 per cent of the respondents indicated that being debt-free was very important to their definition of a successful retirement.
That was slightly more than the 85 per cent who said that it was very important to have sufficient income to maintain their current lifestyle.
Having good health was listed as very important by 94 per cent of the respondents.
Other non-financial factors paled by comparison, with only 62 per cent of respondents saying that living near family was very important.
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Keeping busy with a hobby or volunteer work was important to 64 per cent of the respondents.
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The online poll surveyed 2,003 Canadian homeowners between ages 30 to 59 with household income of more than $50,000. It was conducted online by between March 5 and March 16 for Manulife by Research House.
Manulife Bank is part of Manulife Financial Corp., which operates Canada’s largest life insurance company.
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