Here are important financial, health and social facts about retirement to get you planning for the next adventure in your life.
MONEY TALK life - Brought to you by TD
The TD logo and other trade-marks are the property of The Toronto Dominion Bank
9 things you didn't know about RETIREMENT (but soon will!)
Chance are you'll be spending a quarter of your life in retirement. Before jumping in, here are some things you should know.
66: The average age you'll retire if you're in your 50s now
63: was the average in 1998
?: How old will you be when you retire?
(Statistics Canada 2016)
468 BC: Roman Senator Lucius Cincinnatus becomes the first recorded retiree (Titus Livius). But not for long… He was called out of retirement at age 68 to lead Rome in a national emergency.
100: Centenarians are the 2nd fastest-growing age group in Canada. Women are more likely than men to reach 100 (Sorry, guys). (Statistics Canada, 2015)
65: It's all downhill from there… On average, health begins to decline faster at age 65. More severe disability, limiting many activities, usually begins around age 77. (Statistics Canada, 2014)
42%: Almost half of mass-marketing fraud reported… involves people over the age of 60. (Canadian Anti-fraud Centre, 2014)
Looking for a different retirement home? A woman, 87, has lived on a cruise ship for the past 8 years. She spends $US 164,000 a year on a single-occupancy stateroom, meals and ballroom dancing with the guest hosts. (Washington Post 2016) Life's a cruise
If you hit 55 you will probably live another 29 years… (Statistics Canada 2016)
Do the math: if you retire at 65 you'll be living for 19 years as a retiree
52%. TD Poll: 52% of retirees have this advice for younger Canadians… Save more money by creating a budget and STICK TO IT! (TD Retirement Realities Poll, 2013)
60% of Canadians between ages 55-64 feel they have not saved enough for retirement (Conference Board of Canada, 2014)
Have YOU saved enough? Do you have a plan to get there?
MONEY TALK life - Brought to you by TD
The TD logo and other trade-marks are the property of The Toronto Dominion Bank
