Making Money Minute with Ron Hiebert - Time in Retirement Grows

Since the year 2000, the costs of basic needs—such as home ownership, healthcare, and education—have consistently outpaced wage growth. This trend is expected to continue. As life expectancy increases, the amount of time we spend in retirement grows as well. By 2043, the average retirement may be 21 years. As a result, Canadians need to re-examine their financial goals. Success could mean saving more, working longer, seeking higher returns on investment or a combination of the above. The more time you have to make these adjustments the less likely you will be to outlive your retirement savings.

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