Many people have no idea. Some people have a vague idea. A few people, a very few, have it all worked out. When it comes to retirement planning, many people don't take action until forced to by a mid-life event (career change, death of loved one) or by hearing about seniors running out of money. It's strange that people find it so difficult to plan for their retirement. As all the basic financial books say, you start by recording your expenses, see where you can cut back, and then determine how much you need to save to achieve your retirement income goals. Yet, far too few Canadians take these presumably simple steps for their own financial success.