Retirees are happy and busy as bees
You would think that life slows down in retirement.
But in fact, according to a new report by BMO Bank of Montreal, Canadian retirees are busier than ever.
There's not enough hours in a day for all the activities retirees have these days.
The report revealed that more than one-third of those polled have more activities than time in which to do them and one in three admit that retirement is more expensive than they expected.
However, 82 per cent say they are happy with their current lifestyle.
While retirees are busy with hobbies, sports, volunteering, businesses, vacations and even taking care of the grandkids - the younger generation should take heed and start getting busy preparing for their retirement years.
The study found that out of those polled, many said they should have started saving for retirement sooner and 42 per cent felt that they had not saved enough for those golden years.
Buttigieg offers this advice, "For those who are just starting off a career, it's never too early to think about establishing a long-term financial plan that includes a retirement component.
"Putting money away in an RRSP or a Tax-Free Savings Account are great first steps in getting prepared for life's future milestones."
Now that's good advice. And everyday we are getting a little older and hopefully a little wiser.
By Donna Donaldson, MSN Money
How do you plan on spending your retirement? Do you feel you will have enough saved to finance your retirement?
Posted by: Charles | Mar 3, 2022 1:00:29 PM
The secret to a happy retirement i have found is..Own your condo /house ,,have enough income that you can pay your bills...Even if your income only covers living expenses and a little left over..And work if you WANT ..NOT that you HAVE to..
Posted by: Sam | Mar 5, 2022 12:40:32 AM
How do you plan on spending your retirement? Working
Do you feel you will have enough saved to finance your retirement? Not a chance.
Sadly for me I was born into the wrong demographic group and from where I'm sitting the math just doesn't work.
I have yet to see anyone mathematically breakdown the retirement viability for those born post 1965. Unless the flood of immigration and high commodity prices continues unabated there is going to be a massive problem. Think about the huge babyboom group in their late 70's with large segments requiring dementia and diabetes care.
Can someone point me to the article that explains how retirement will work for Gen-X ??
Posted by: William | Mar 5, 2022 7:33:43 PM
Sam... my brother was born in 1965 and he seems to be doing quite well despite the fact that he dropped out of high school. He isn't as well off as I am (doctor), but he has no issues with meeting his retirement goals. Maybe you should look into what you are doing wrong rather than blaming everyone else. Do you want a little cheese with your whine?
Posted by: George Brown | Mar 7, 2022 3:14:20 PM
William, are you an asshole doctor ?
Posted by: Walter | Mar 8, 2022 9:25:41 AM
I'm enjoying retirement and thankful that things have worked out well for me. That said I don't center my life around the accumulation and worship of money.
I work a bit here and there off the farm mostly to stay connected to the community and to stay active but generally potter about around the farm which provides us with more than enough.
I understand how some younger people like Sam can be caught up in a perfect storm of high expenses, declining real wages and unfortunate life events and what is more I also understand the faulty thinking demonstrated by William who attributes all his life success to his own personal brilliance. Sadly for our society Williams thinking pervades our government and fewer and fewer provisions are set aside for those people who have the misfortune of life throwing them a curveball.
What unnerves me is that even in Alberta the government is borrowing more money to make up for shortfalls (what possible shortfall could there be), when the countries we compete against (Norway, etc) have a budget surplus and project to have many more.
So at this point I feel that I have enough set aside for the rest of my life, but only time will tell.