Start saving early, make saving a priority and pay off debts before you stop working, or you may not live your retirement dreams. That’st the top advice from Canadian retirees in TD Waterhouse’s first Canadians and Retirement survey.

The survey polled retired Canadians from across the country to provide insight for the next generation of retirees. Of retired Canadians, 43% feel confident that they planned well and saved enough, but only 15% say they are completely living out their retirement dreams.

“This sends a clear message to pre-retirees: think about what you really want from retirement and start planning for the transition now,” says Patricia Lovett-Reid, senior vp, TD Waterhouse Canada Inc. “Life may throw you curve balls along the way, whether it’s the state of the markets or a major life event, but if you have a plan in place, you’re in a much better position to react and make any necessary adjustments.”

For many poll respondents, retirement wasn’t exactly what they had imagined. They found adjusting to retired life challenging. The most difficult adjustment was no longer being defined by their work (25%), followed by not being able to do all the things they used to because of financial constraints (22%).

There are many lessons pre-retirees can learn from recent retirees about how to make the transition to retirement smoother. More than half (54%) of retired Canadians recommend pre-retirees develop a full life outside of work now instead of waiting until they retire. Nearly two-thirds (64%) urge pre-retirees to take care of their health – both physical and emotional – and more than half (54%) advise pre-retirees to start saving early.

Among the top advice from the majority (59%) of retirees was for pre-retirees to take time to really prepare for, and understand what they want from, this next phase of their lives. This includes envisioning what their day-to-day routine will look like in retirement and making adjustments to their lifestyle now that will help increase their satisfaction with that picture.

Nearly two-thirds (62%) of Canadian retirees did not work with a professional to plan for their retirement. Forty-two per cent reported feeling concerned that they may not have saved enough to live out the type of retirement they originally had in mind.

The survey was conducted by Angus Reid Strategies in March 2008. The online survey polled a randomly selected, representative sample of 801 adult Canadians between the ages of 55 and 70 who are currently retired.