Your life in retirement might seem hard to picture, much less plan for. Here are some key financial, health and other facts that may help you start imagining life’s next adventure.
Originally published October 2018
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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
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
