Many retirees having trouble fulfilling dreams for their golden years: survey
Posted April 25, 2016 8:44 am.
This article is more than 5 years old.
VANCOUVER (NEWS 1130) – If you’re getting a tax refund, this might be reason enough to put it towards your retirement fund:
A new survey suggests money concerns are holding back some retirees from living out their golden years like they’d dreamed.
Most people surveyed for Investors Group say retirement is living up to their expectations — they’re seeing family and friends more and devoting more time to hobbies they love.
“But what goes hand in hand with that is that a majority of them — or 59 per cent of them — are concerned about being able to make their retirement funds last. So even though they’re finding that enjoyment, it’s not without its own set of worries,” says Tim Cottee with Investors Group.
Cottee adds nearly four in 10 who have retired recently say they aren’t able to do everything they want.
He says that anxiety could potentially lead to a healthy bank account, but also regrets about how those senior years were spent. “What they tend to do is they pull back on what their lifestyle expectations are in retirement because of that, and that can lead to what we call underliving.”
Another indication of money concerns is more than a third of retirees say if they got an unexpected windfall, they’d get rid of their debt; some some even say they’d invest it.
