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.
News Canada