New data from CPP Investments reveals that 61% of Canadians are worried about running out of money during retirement. But the good news is that you can ease that anxiety. To find out how, we chatted with Frank Switzer, managing director of investor relations at CPP Investments. Canadians are living longer than ever before, and the amount of money people think they'll need in retirement is going up — from around $50,000 to $55,000 a year. Switzer said both factors contribute to this fear, but that having a solid retirement plan can make a huge difference. “People with a retirement plan feel less stressed and more confident about their ability to save,” Switzer said. The research backs this up. Behavioural science shows that setting and achieving smaller goals (like putting $300 into your RRSP every month for six months) leads to confidence in decision-making and sticking to long-term goals (saving $1 million by age 65). So start making a retirement plan now, build up your confidence and financial knowledge, and watch the fears fly away.