Managing cash flow is a top priority for Canadian retirees according to a survey released today by RBC Financial Group.

The survey, conducted by Ipsos/Reid, found that 63% of retirees agree with the statement: “Since retiring, managing my cash flow has been the top priority.”

“After a decade of low interest rates, many investors continue to experience the challenge of generating sufficient income or attractive returns on fixed-income investments,” says Nadine Girault, national manager, client strategies for RBC Royal Bank.

The poll also surveyed Canadians approaching retirement and found that many are feeling the pressure of looking after their parents and/or supporting their children — the “care-giving squeeze”

“Baby boomers are especially concerned about how to generate enough income from their investments when they retire, given the conflicting demands on their cash flow, and their desire to have a comfortable retirement,” says Girault.

According to the survey, almost half (47%) of non-retirees agree: “Because of the financial burden of taking care of my children I have not put away enough money for my retirement.” One-third (31%) agree: “Because of the financial burden of taking care of my aging parents I have not put away enough money for my retirement.”

The poll also found that soon-to-be retired Canadians are three times more likely to say they dream of spending winters in a warmer climate as the proportion of retirees who actually do so.

While slightly more than half (54%) of non-retirees say they dream of spending winters in a warmer climate after they retire, just 19% of retirees agree that “since retiring, I have spent winters in a warmer climate.”

For the survey, a representative, randomly selected sample of 3,003 adult Canadians were interviewed by telephone in English or in French. A total of 573 retired Canadians and 2,430 non-retired Canadians were interviewed.

Questions were asked on Canadian Ipsos-Reid Express omnibus surveys between August 20 and August 30, 2004. With a sample of 3,003 Canadian adults, the results are considered accurate to within (+/-) 1.8 percentage points, 19 times out of 20, of what they would have been had the entire adult population been polled.