Feeling weighed down by debt while trying to save for retirement? You’re not alone. Many Canadians are juggling mortgages, lines of credit, and family expenses while still hoping to retire comfortably.

The numbers tell the story. According to Statistics Canada, the household credit market debt-to-disposable income ratio reached 173.9% in Q1 2025—the second-highest level on record. That means Canadians owe about $1.74 for every dollar they take home. Even though debt servicing costs are stable at around 14.4% of disposable income, the sheer size of household debt can feel overwhelming.