Scotiabank Study: Investors Planning on Retiring on Time

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Author:businesspictures

According to a recent Scotiabank study that assesses Canadian investor’s attitudes towards investing, 73% of Canadian investors’ surveyed saying that the age they plan to retire has not changed despite the market conditions of the past two years.

There are 22% among Canadian investors who are pushing back their retirement date due to the economy, and 56% are closer to the retirement age, which is age 45 – 64.

An average investors plans to retire at the age of 61 with 49% saying they will retire before the age of 65, which is up from 2008 by 23%.

This is interesting to see because of the conditions the market faced over the past two years, however if you consider that there are more younger people are investing in today’s market it is not totally unexpected.

In order to achieve retirement goals, investors have realized that there needs to be a balanced portfolio which includes long term growth assets. Sitting on the sideline in cash, bonds or GICs will not cut it in this day and age, especially since the historic low interest rates will not be able to provide the growth necessary to reach the set retirement goals.

Before you get into the minority of re-evaluating when you plan to retire, take the time to review your retirement plan to ensure everything is on track and moving along smoothly.

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