May 16 roundup

By MoneySense Staff on May 16, 2012
Estimated reading time: 1 minute

On mortgages in retirement, excessive spending in kids sports and record booze sales in Ontario.

•More than half of Canadians expect to carry a mortgage in retirement, according to a new poll by BMO. B.C. residents were the most likely to expect being indebted in their Golden Years at 59%, followed by Quebecers at 58%. Not your idea of “freedom 55?” Boomer and Echo has tips to help you pay off your mortgage faster. •Do kids really need high-tech gear to play recreational sports? MoneySense contributor Preet Banerjee writes about excessive spending in sport and how it’s creating a class divide. •Younger workers are more attracted to the idea of taking at least a portion of a retirement account as guaranteed income than older workers, a new U.S. study has found. This risk-averse attitude of young professionals worries financial planner Roger Wohlner. Here’s why. •Ontario’s liquor board reported another year of record sales. The LCBO cleared $4.7 billion in net booze sales for 2011-12, up nearly 5% over the year before.

May 16 roundup

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