Canada’s aging population is a reality with many spending decades in retirement.
For the average Canadian, it may seem difficult to imagine living in retirement a longer period of time than some careers, but longevity is a key factor to a retirement plan.
Retirement is not a single phase of life, but a series of stages and living longer does not necessarily mean living the same.
RBC suggests considering the following:
* Personal health can impact the enjoyment of retirement years. It’s important to think about how health will affect retirement decisions?
* What can you do today to maintain healthy aging throughout retirement life?
* What changes in housing might be necessary in the future as your life changes? A home in the country can seem wonderful, but reduced access to services, activities andfamily might impact your retirement life.
* How can you make sure the people you love and the causes you support benefit from your estate?
Knowing what decisions need to be made is half the battle.