Deluded about debt?
Posted Aug 29, 2011 1:22 pm.
This article is more than 5 years old.
A recent Harris-Decima poll shows a majority of Canadians expect to be free of all debt by age 55.
However, the survey also found that only a quarter of respondents of that age actually are, prompting 660News to conduct an informal poll of our own at a northwest Calgary shopping centre.
While reluctant to reveal their own expectations, most people we talked to guessed the rest of us might project debt-free status between the ages of 50 and 60. However, responses were all the same upon hearing Canadians aged 18 to 24 think they’ll be flush by the age of 32.
“I don’t think they will be, they’re dreamers,” says one woman.
“I think they’re crazy,” says another shopper. “I will be but I don’t think they will be,” he says.
Turns out, most of us are, apparently, dreamers.
The poll shows, regardless of age, we all think we’ll be debt-free within 10 to 15 years.
However, an expert with CIBC says the truth is, the passage of time, alone, is not enough to attain a debt-free lifestyle.
