Longevity: Canada's aging population is a reality. According to Statistics Canada, Canadians aged 65 in 2012 can expect to spend more than 20 years in retirement. The average male retirement expectancy is 18 or more years; for women it is 21 plus years. Retirement is not a single phase of your life but a series of stages and living longer does not necessarily mean living the same. How will your time horizon impact your retirement savings?Health: Your personal health can affect your enjoyment of your retirement years as well as your income. Almost one third (30 per cent) of retirees say the cost of healthcare is among the top concerns in retirement. Do you have health concerns? Have you planned to ensure healthy aging? Have you considered the costs associated with potential or real health concerns?
Canadians Cut Their Retirement Savings Goal By More Than $200,000: RBC Poll
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