Fifty-nine percent of Canadians miss or will miss their employment income from their working life, according to a BMO Wealth Management poll. Additionally, Canadians believe that the most significant challenges in retirement include:

  • Ensuring they do not run out of money to live comfortably (67%)
  • Dealing with serious health problems (66%)
  • Having difficulty finding a sense of purpose (42%)

Despite their concerns, the majority of Canadians have positive feelings about retirement. Fifty-five percent say they are excited and optimistic, and 52% say they feel prepared for whatever might happen.

The report also found that 64% of Canadians have given at least some thought to the non-financial aspects of retirement. The attitudes and mindsets they think are most likely to be found in a satisfied retiree include being busy and active (85%), independent (63%), and forward thinking (40%).

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