MORTGAGE IN RETIREMENT

MORTGAGE IN FRENCH MEANS "SLOW DEATH" BTW LOL PG SAYS "WEALTH IS A STATE OF MIND" & "YOU ARE ONLY AS WEALTHY AS YOU ARE HEALTHY" https://ca.finance.yahoo.com/news/posthaste-more-retired-canadians-mortgage-120125910.html Twenty-two per cent of retirees polled still have a mortgage, more than half of which do not expect to pay it off in under 10 years. More than 20 per cent of retirees and 12 per cent of pre-retirees do not expect to be able to pay off the mortgage at all. Household indebtedness has been rising for all Canadians, making it more likely that a bigger share of the population will enter their retirement years carrying debt. According to Statistics Canada, the number of senior families with debt rose to 42 per cent in 2016, up from 27 per cent in 1999. The proportion with mortgage debt almost doubled. About two-thirds of the total increase in debt for seniors was attributable to an increase in mortgage debt, said the agency. Since then the challenges have only increased. In another survey by EQ Bank this week more than half of Canadian homeowners aged 45 and older said their retirement savings have been negatively impacted by economic uncertainties over the past year. And there have been plenty of those, including the U.S. trade war that has battered Canada’s economy and the Iran war that has sent fuel prices soaring. Inflation tops the list of Canadians’ concerns about their retirement in Fidelity’s poll at 80 per cent, followed by turmoil in world politics and a weaker economy or recession in Canada at 60 per cent. More than a third of retirees said that they have moved their assets into more conservative investments such as GICs, bonds and cash because of worries about global conflicts and volatile stock markets. Canadians are also concerned about their social safety net. “Nine in 10 Canadians expect to rely on government programs for retirement income. But far fewer expect these programs to remain as generous as they are today,” said the Fidelity report.