Friday, May 25, 2007

70 Is The New 50

I was reading this interesting article the other day on 70 is the new 50 for retirees. It was a great read because it pointed out a few interesting facts like of those in retirement only 16% over 60 actually retired early. Perhaps what is more interesting is a fifth to a half of the population still works in their sixties with a huge amount (71%) saying they are because they want to, not because they have to.

Beyond anything that just shows me that the old idea of retirement is time to just sit and relax is long dead with more Canadian retirees doing work or volunteer work which combined contribute a staggering $5.3 billion dollars to our economy. Also Canadians on average are a healthy group with most reporting good or very good health in their seventies.

So semi-retirement seems to be a poplar option overall which is a nice blend of paid work and still having the time to chase your own interests. This agrees a bit with my own views. I'm planning on a early retirement, but I would be willing to do a semi-early retirement as well.

Have a good weekend,
CD

4 comments:

SavingsJourney said...

Hi CD, that article is more in line with my thoughts today. I'm from the information overload generation - it's nearly impossible for office workers not to have ADHD with all of the distractions available to them today! Imagine the younger generations that are multi-tasking on their computers from such a young age. When we reach retirement, out of habit the whole idea of sitting there and relaxing just won't feed those hungry neural networks looking for more rapid and exciting changes and developments ;)

NonyMous said...

Hi CD,
i can understand and relate to the statistics you pointed out quite well as my both my grandparents contnued working even after retirement. The internet has opened up quite a few avenues for people to make money while sitting at home and probably accounts for the wages of a good chunk of retirees.

The Financial Blogger said...

Hi CD,
I totally agree with the idea of an early retirement. Then, I think it will be time for a second career. Something that you really like and accomplish at your own pace. Internet definitely help to create second career after retirement.

Canadian Dream said...

SJ,

I think part of everyone's problem is information overload. We take in so much, yet how much of it do we really need?

N,

Thanks for the comment. I didn't think of the internet, but you bring up a good point.

FB,

It's interesting that now early retirement is often time for another career where the money is clearly not important.

CD