Many expect inheritances, kids to fund their retirement
Isn’t retirement supposed to be a time in life when you get to relax in your home and enjoy those around you? A time to relish in the luxury of not having to wake up to your demanding alarm clock beckoning you to work. Unfortunately, retirement for most Canadians is just that, the alarm clock.
Due to lack of proper financial and cash flow planning for retirement Canadians are finding themselves returning to the grind of the workforce and getting part time jobs. Along with this dramatic lifestyle change they are also selling the one thing they have worked so hard to enjoy, their family home.
According to a survey done by the Bank of Montreal, 59% of Canadians expect to have a part time job and 49% expect to sell their home or property. I think it’s safe to assume that most Canadians do not want this for their retirement. I have included an article, Many Expect Inheritances, Kids To Fund Their Retirement which includes shall we say, some interesting facts with regards to how Canadians are planning their retirement!