Mortgage News
Canadians think their homes will fund their retirement
Almost a quarter of Canadians say they are planning on using their homes as their primary source of income once they are out of the workforce, according to a survey from Sun Life Financial.
Published
According to a recent survey from Sun Life Financial, 24% of Canadians plan to use their home to fund their retirement by accessing the equity they have built. It is believed that rising Canadian home values are contributing to this phenomenon.
Of those who intend to use their home to partially fund their retirement, the majority only expect to fund 10% through this method. 30% is expected to be provided through pension plans, 27% from personal savings, 23% from employer plans, 5% from inheritance and 6% from "other sources".