Retirement or Career Transition

Retirement or Career Transition Most of our grandparents and parents reached the ageofretirement and did just that, they retired.But today thetrend is changing and it is becoming more and more common for those reachingretirement to continueworking,negotiate alternative working arrangements or embark on entirely new careers. An increased life expectancy is only one of manyfactors contibuting to this trend. Although many continue in theircareers or startnew careers out of interest and not financial compensation,there arethose who are realizing thatthey lack the money needed to liveto an average life expectancy that is continually expanding beyond age 80. A Desjardis Financial Security study found a third of couples who are aged 65 now will have at least one survivor at age 95 so you may need money and income for longer than youve worked! AStatistics Canada report found the number of seniors from 1981 to 2005increased from 9.6% to 13.1% of the total population. From 2005 to 2036 the number of seniors are expected to increase from 4.2 million to 9.8 million.Whether you retire, continueto work or enter into a career transition, your decision will be one made by manyothers foryears to come.