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Here, a financial checklist will help you be the judge.

A recent Global survey released by HSBC Bank found that Canadians are more likely than anyone else in the world to say that financial worries are a serious impediment to retiring within five years.

"A staggering 93 per cent – the highest proportion across all 17 markets surveyed – say that financial considerations such as a lack of savings, too much debt or the need to support dependents are thwarting their retirement dreams," HSBC said of its Canadian findings.

Retirement consultant Malcolm Hamilton thinks such fears are way overblown. In a report prepared last year for the C.D. Howe Institute, he concluded that most Canadians are saving enough and are reasonably well prepared for retirement. He also debunked the widely accepted maxim that people need 70 per cent of their pre-retirement income to maintain their standard of living, saying it's possible to live comfortably on less.

A report released last year by the consulting firm McKinsey & Company looked at the finances of 12,000 households and concluded that 83 per cent of Canadians appear to have adequate resources for a comfortable retirement. "Comfortable" is defined as spending does not exceed two-thirds the amount spent in a typical working year.

Despite this, many older Canadians report being worried about their future. A Sun Life poll published in 2015 found that 60 per cent of respondents expect to still be working either full or part time at age 65 compared to only 27 per cent who believed they would be fully retired. The majority said financial concerns were the main reason they'd have to stay in the labour force.

Ultimately, the decision to retire really all comes down to you or your family's level of financial preparedness.

My retirement checklist should help you decide how ready you are to leave the workforce and embark on the next stage of life.

Click through for the checklist.

Copyright 2017 ZoomerMedia Limited

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