Regardless of their personal wealth, Canadian Boomers who are not yet retired share the same concern – that they haven't saved enough money, according to the RBC Retirement Myths & Realities poll, conducted by Ipsos.

The poll also found that Boomers’ savings goals varied widely. On average, those with investable assets of $100,000 or more were aiming to save $949,000 and are falling short by $275,000. Meanwhile, those with investable assets of less than $100,000 hope to save, on average, $574,000 and are more than $500,000 away from their goal.

The poll revealed that not-yet-retired Boomers are looking at various options to increase their retirement income, including: downsizing their home or moving (52%); working in retirement (41%); borrowing against home equity ( 25%); relying on an expected inheritance (21%) and hoping to win the lottery (3%).

"No-one should be relying on an inheritance or a lottery win. We also don't want anyone feeling discouraged by unrealistic savings goals or thinking they don't have enough time. Concerns like these can be overcome by taking control of your finances," says Rick Lowes, Vice-President, Retirement Strategy, RBC. "There could be some tough choices ahead. A half-hour conversation with a financial planner can help you get started and shape your retirement plans to make a real difference to your financial future."