For Canadian couples who meet later in life, the idea of retirement might seem like a far-off goal. But you should know that many couples are in the same position as you. And with the help of a financial plan, your retirement dreams could be closer than you think. Here are some statistics on later-in-life couples, plus a few retirement perspectives we all need to think about.

Second-time soulmates, by the numbers

Swiping left and right

Canadians spent an average of 4.6 years post-separation or divorce before they partnered up again. That’s 4.5 years for women and 4.8 years for men.

One in six Canadians (or 16%) haven’t thought about their retirement savings contributions.

Average age of retirement in Canada in 2021:
Men: 64
Women: 63

Second-time soulmates, by the numbers

Common-law relationships are increasing

After divorce, an increasing number of people are choosing to live in a common-law relationship when they find a new partner: 16% of Canadian couples, aged 55–69, are in common-law relationships, up from 13% in 2016. The laws pertaining to common-law relationships and marriages differ from province to province, and in some jurisdictions a common-law spouse may not enjoy the same benefits as a married spouse. Those in common-law relationships may benefit from the extra support of a retirement plan.

More than half (54%) of Canadians do not have a financial plan for retirement. Of those…
40%: “Are not sure when they’ll retire”
14%: “Probably won’t retire”

Second-time soulmates, by the numbers

Retying the knot

More than one in four Canadians who are aged 33–64 and in a relationship are currently on their second, or subsequent, marriage or common-law relationship.

What kind of relationship?
36% in a common-law relationship
46% in a marriage that started as common-law
18% in a marriage that did not start as common-law

One in five (20%) working-age Canadians are now nearing retirement (55 years young and up).

People who work with a financial advisor and have a goal-based plan are twice as likely to stick with their strategy during times of market volatility.

Second-time soulmates, by the numbers

Growing families

Half of previously divorced or separated adults aged 35–64 have been with their current partner or spouse for more than 12 years. More than half of those now married have had children with their current partner or spouse.

Nearly half (49%) of Canadians surveyed say the COVID-19 pandemic has led to more open and constructive conversations with their partner about finances.


Family matters: New relationships after separation or divorce, Statistics Canada, May 15, 20219, accessed Aug. 8, 2020,,from%20more%20than%20one%20union.

Are you and your spouse on the same page when it comes to your retirement plans?, TD Stories, TD Bank, Aug. 7, 2018, accessed Aug. 9, 2022

Living for Today, Not Tomorrow: Majority (54%) Do Not Have A Financial Plan for Retirement, Ipsos, Sept. 29, 2021, accessed Aug. 9, 2022,

No such thing as easy money… 1 in 2 Canadians surveyed say it’s easier to find true love than financial success, TD Stories, TD Bank, Feb. 2, 2021, accessed Aug. 9, 2022,

Retirement age by class of worker, annual, Statistics Canada, Jan. 07, 2022, accessed Aug. 8, 2020,

Census of Population, Statistics Canada, April 22, 2022, accessed Aug. 8, 2020,

A Behavioural Perspective on Risk, TD Wealth, 2021, accessed Aug. 09, 2022,