The rising cost of living and a steady climb in interest rates has a growing number of people worried not only about their immediate costs, but about the money they’re poking away for retirement.

That’s according to manager at BDO debt solutions, Adam Cardwell.

Some recent surveys show that the majority of Canadians are worried about their finances, none more so than those in Atlantic Canada.

Cardwell says indications are that interest rates will continue to rise.

He says now is not the time to take on new debt.

Not only are consumers worried about rising costs says Carwell, but they’re also worried about investment losses.

He says retirement savings, RRSPs and investments have taken a hit as the markets react to rising interest rates, affecting people’s retirement plans.