Retirement: life goes on…

The numbers shows that most people’s definition of retirement no longer means completely stopping work. Is that a good or bad thing? Actually, it’s neither. It is surprising, however, that it has taken so long for people to catch on to the fact that retirement doesn’t mean the same thing for everyone.

According to Retraite Québec’s Sondage 2016 sur la sensibilisation à l’autonomie financière de la retraite (French only), which surveyed workers aged 35 to 49:

• 59% of workers want to retire progressively; 
• 18% of workers would prefer to change jobs rather than retire; 
• 22% of workers (less than a quarter) expect to fully retire.

The survey also showed that more than half of workers expect to retire at age 65 or over.

These results go hand in hand with several social phenomena, such as an increasing life expectancy and the fact that workers enter the labour force at a later age. But could this also be related to the fact that we are afraid of retirement?

Let’s be honest. The image we have of retirement is not very realistic. Take, for example, plans of spending a year on a yacht in the tropics, or travelling around the world. When we take a few minutes and do the calculation, we realize that such projects are costly. Sadly, very few people can make those dreams come true.

Even though doing the math can sometimes be a slap in the face, it at least makes us think about what we can really afford to do when we retire. And sometimes, finding something to fill up all that free time is precisely what stresses us out. Then, we really see how expensive life is.

What is the best remedy for your retirement blues? There is only one: be smart when you prepare for retirement. Plan affordable, realistic projects that you can offer yourself. Don’t expect to do what you can’t do right now, otherwise you’ll be telling yourself fibs. Don’t forget that retirement is a part of life.