Real Estate

Too much wealth tied up in real estate can hurt your retirement, report suggests

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Houses on a hill in Vancouver, on Nov. 23. Near-retirees are too dependent on their houses for wealth, according to a report from Deloitte Canada.DARRYL DYCK/The Canadian Press

Canadians heading into retirement are in a great position, said no one ever.

But even by this usual standard of negativity, a new report on retirement by Deloitte Canada is a stunner. It says that 55 per cent of people aged 55 to 64, about 1.7 million individuals, will have to make lifestyle compromises to have a comfortable retirement. Near-retirees are too dependent on their houses for wealth, they invest too conservatively and they don’t have access to the advice and investing products they need.

The Deloitte reports includes some suggested remedies, including more options for people tap into their home equity to finance retirement. But the takeaway for people retiring in the next few years

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