Most Canadians plan to continue working after retirement

Most working Canadians say their bodies are in better shape thantheir bank books, and many plan to continue working part-time afterretiring to bolster their incomes, according to a survey released thisweek.  More than half admit they don’t have enough money to live on if they don’t.  However, the results of the survey by financial services giant Investors Group also suggests that may not be possible for many. Thepoll found that 58 per cent of all working Canadians plan to do somesort of paid work in retirement, and only eight per cent say they havea health condition that might prompt them to retire earlier thanplanned.  “But working Canadians may want to pay mind to the lessons learned by retired Canadians,” the analysis of the results cautioned.  Only23 per cent of current retirees surveyed did some paid work after theyretired, less than half the proportion of working Canadians who plan tokeep doing so, the survey found.  Further, 21 per cent of retireessay they encountered a health condition that required them to retireearly, nearly three times the proportion of working Canadians who saythey have such a condition.  “As we age, health and othercomplications can come into play,” Investors Group’s Debbie Ammetersaid in releasing the survey results. “It is critical to remember thatyou may not be able to work as long as you hope or plan to.While70 per cent of Canadians say they have established a regular pattern ofphysical activity, less than half have been as proactive and sought outhelp with their finances, the analysis noted.  “Canadians areincreasingly focused on improving their physical fitness, but it isequally important to establish healthy habits to ensure sound financialfitness,” said Ammeter. “Physical health and financial health are notmutually exclusive — both are essential to longevity and a prosperousfuture.”

Source:  Vancouver Sun
Full story: http://www.canada.com/vancouversun/news/story.html?id=a42e8684-ffc8-4d9d-8dbe-924c1ce8fc41&k=83685