Sun Life Financial: Statistics Show Canadians

Monica Linares Dept: Statistics show Canadians on the whole only contribute about 6 to 7 per cent of the maximum they re allowed to their RRSPs every year. SPECIAL REPORT RRSP season: How to make the most of your investments What you need to know to start, build and protect your retirement nest egg, according to CBC. Immigrants have other priorities when they come here, says Monica Linares, a financial advisor with Sun Life Financial. They left everything in their country, so they have to start again to build another life and besides the challenge of settling into a new home and culture, immigrants to Canada face a host of issues when it comes to getting their financial lives in order and planning for their retirement. But there s one thing Canadians all have in common: the sooner we start investing in our financial future, the better. While nobody seems to track the data on new Canadians specifically, there s ample anecdotal evidence to suggest the numbers for immigrants are even lower. (www.immigrantscanada.com). As reported in the news.