Who Me – Retire?
New Study Shows Boomers Can’t Afford to Stop Working
We can’t say we are surprised. A national online survey conducted for CIBC by Leger Marketing last month found more than half of Canadians 50-plus will continue to work after retiring in their 60s, mostly to supplement their income.
Fifty-nine per cent of Saskatchewan and Manitoba residents planned to work post-retirement. Quebec had the lowest number at 47 per cent and Atlantic Canada, Ontario, Alberta and British Columbia were closest to 53 per cent, the national average.
Nearly half of 50-59 year olds surveyed have less than $100,000 saved for retirement. Some will even use employment income to supplement lack of savings.