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Rick Robertson discusses why retirement savings are taking a dive

January 2010
 

The economic turmoil appears to have taken a bite out of people's long-term savings pots as recent RRSP polls show Canadians are behind in planning for retirement.

Rick Robertson, Associate Professor of Managerial Accounting and Control, Richard Ivey School of Business, is available to discuss the advantages of contributing to RRSPs from a tax perspective and how RRSPs compare to tax-free savings accounts. He can also weigh in on how the recession has impacted people's saving habits and factors to consider during the various modes of saving in life.

"Procrastination is a common trait. There is clearly a psychological issue here," said Robertson. "Compounding the problem is the fact that some people saw their retirement savings ravaged by the market turmoil. They're asking, ?Where did it all go?' and may figure they're better off spending their money than saving it."

Robertson added that even as the economy picks up slightly, some people are wondering if they've missed the rebound or if another correction is coming.

"There's a lot of uncertainty about what to do next," he said.

Robertson can be reached at 519-661-3216, rrobertson@ivey.uwo.ca

Ivey Experts List:

• Jeffrey Gandz, Professor of Business, Economics and Public Policy and Managing Director of Program Design in Executive Development - Skills for leading and strengthening your business in the economic upturn, 519-675-5505, jgandz@ivey.uwo.ca
• Ariff Kachra, Assistant Professor of Strategy - How diversity in the workplace helps businesses to compete globally, 519-661-3305, akachra@ivey.uwo.ca
• Robert Klassen, Professor of Operations Management - How CSR improves a company's bottom line; why companies are paying increasing attention to their carbon footprints, 519-661-3336, rklassen@ivey.uwo.ca

Ivey Media Contacts:
Mary Weil
Manager, Media & Public Relations
416-203-0664
mweil@ivey.ca

Dawn Milne
Communications Specialist
519-850-2536
dmilne@ivey.ca