Angela Iermieri1 | Financial Planner |Desjardins Group
"Ah! If youth but knew!" We all like to learn from our elders, especially when it comes to planning our retirement.
We asked 2,500 retired Canadians to share their knowledge with people preparing for retirement. Here are their top 5 suggestions for a successful retirement2.
1. Start planning for your retirement early
People who were well prepared for their retirement tend to be more satisfied. Not only is there a link between the level of preparation and level of satisfaction, but those who were more prepared retired an average of 3 years before those who didn't prepare.
2. Plan activities
People who see retirement as a continuation of their active life instead of a never-ending vacation say they are more satisfied with their retirement.
3. Maintain an active social life
The social aspect--friendships and camaraderie--is by far what retirees miss the most about work.
4. Get informed and get ready
Preparing for retirement isn't just about saving money and it's more than just making plans for future projects. You must take into account finances, physical health and social life.
5. Be prepared for anything
No matter how prepared you are, retirement can have its share of surprises. Expect that not everything will go as planned. Keep an open mind and a positive attitude and it could help you overcome some disappointments.
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1 Financial Planner and Mutual Funds Representative for Desjardins Financial Services Firm Inc.
2 Retirement planning self-assessment study conducted by Desjardins in 2016