Today is your day Boomer! I am retired and my wife almost is....but the younger Baby Boomers may not be ready yet. Of course, the primary consideration is money....pensions, savings, interest, inflation, future plans...it is all very difficult to figure out. Maybe this new survey of 4000 Canadians aged 55-64 will help. "Deloitte Canada found that only 14 per cent of near-retirees are expected to be comfortable in retirement, able to absorb unexpected costs without much stress. These individuals largely have $900,000 or more in financial assets and likely own their own home on top of that. 31% are expected to rely mainly on public support such as the Canada Pension Plan. Being on a fixed income means this group will be “particularly vulnerable” to unexpected costs after retirement. In the middle are the 55 per cent of near-retirees who will have to make changes to their lifestyles to avoid outliving their financial savings. This cohort is largely made up of middle-income Canadians, including those who may or may not own their home outright." So, this last grouping is probably "most" of us....maybe a little unsure of their future and "retirement readiness." Is there a magic retirement financial number? The report states 1.7 million dollars, but also qualifies it by saying it varies in individual circumstances. Want more info on all of this? Check out the entire story on Globalnews.ca. Good planning and good luck Boomers!

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