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? Inflation: One-third of retired Canadians (32 per cent) state that inflation and the effect it might have on their retirement finances is among top concerns. What measures have you taken to manage inflation? How will you maintain a sustainable level of income in retirement amidst unforeseeable circumstances? Work: Among the Canadian working population, 42.4 per cent are between the ages of 45 and 64, a record high proportion, according to Census Canada 2011. Canadians are increasingly choosing to continue to work or return to work after retirement. The RBC Poll found 27 per cent of Canadians say they will never retire and 23 per cent plan to open a business in retirement. Have you considered whether you would choose to fully retire or return to work during retirement? "Planning for retirement is so much more than just a magic number and this is where financial advice can ensure all aspects of retirement are explored to ensure you have the retirement you want," added Round.