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ARTICLE · 09 OCTOBER 2020

Is It Possible To "Oversave" For Retirement?

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The quick answer to the question, "Can you save too much for retirement?" might seem like an obvious, "No. You can never have too much money."

CanadaFamily and Matrimonial
Lawyers Financial
Lawyers Financial
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The quick answer to the question, "Can you save too much for retirement?" might seem like an obvious, "No. You can never have too much money." But another way to ask the question might be, "What are giving up by saving too much for retirement?" 

Fred Vettese, co-author of The Real Retirement and author of Retirement Income for Life, has given this answer a lot of thought and he feels that some Canadians may be depriving themselves of present-day opportunities to enjoy more of their money because they are over-saving for retirement. That doesn't mean blowing the bank on frivolous things. Saving less and spending more now could mean giving away some of your wealth while you are still around to see the effects of your generosity.

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