Thinking of retirement? Think again! -Top 10!

Thinking of retirement? Think again! -Top 10!

The golden years. Retirement. Your almost there, but are you ready!? Here are some statistics about retirement to consider.

 

1. The avg age of retirement for self employed people is 67.7 years old

2. The avg age of retirement for public sector people is 61.7 years old

3. The avg age of retirement for private sector people is 64.4 years old

4. Baby boomers are being advised to up retirement savings from 10% of their annual income to 15% or more

5. Life expectancy past retirement age has increased by almost 10 years over the past decade (spread your money thinner)

6. Less than 50% of Canadians have a retirement plan in place

7. 1 in 5 Canadians maintain some form of employment after retiring

8. Only 25% of Canadians work with a financial planner when it comes to retirement

9. 37% of Canadians have strong financial concerns at retirement

10. 58% of retirees say they wished they had started saving for retirement sooner


Disclaimer: This article provides information only and is not intended to confer legal or financial advice or opinion. If you have any further questions please consult a lawyer or accountant. Please note as well that many of the statements herein are general principles which may vary on a case by case basis.