How will current retirement trends change my planning strategy?
Retirement planning will need to become increasingly strategic for a couple of reasons: We live in a time that emphasizes health-consciousness and active lifestyles. As a result, ideas of retirement have been reshaped: It is now a time for ambition, a period where you can take stock of how you want to enjoy your time, on your terms. BMO Financial Group and Ipsos Reid recently undertook the most comprehensive survey of changing attitudes towards retirement. Read full report. At the same time, a demographic shift is occurring. The massive Boomer generation is moving en masse towards retirement age. By the year 2016, there will be 6.9 million seniors in Canada, which means there will be more seniors than children under the age of 14 in this country. Whereas previous generations had the benefit of a guaranteed income through retirement, new retirees may not. All this means that the retirement-aged population will increasingly have to examine their post-retirement needs and plan accordingly
