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The Big Story
Retire?! In This Economy?!
May 4, 2024
Alyssa Brierley, Executive Director of the National Institute on Aging at Toronto Metropolitan University, discusses the evolving concept of retirement in Canada, addressing financial worries, changing attitudes towards retirement readiness, income inadequacy, and challenges faced by older Canadians in the workforce. Insights highlight the need for individuals to prepare for various expenses as they age, advocate for flexible work arrangements, and emphasize the importance of age-inclusive workplaces.
25:22
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Quick takeaways
- Retirement now involves prolonged workforce engagement beyond 65, reflecting evolving preferences and extended life expectancy.
- Financial concerns plague Canadian over-50s, with adequacy of savings, inflation worries, and rise in living costs impacting retirement readiness.
Deep dives
Evolution of Retirement Concept
The concept of retirement has evolved significantly, no longer resembling the traditional view of retiring at 65 to sip cocktails on the beach due to increased life expectancy. Many individuals now prefer to continue working past retirement age according to Stats Canada, highlighting a shift in retirement preferences towards more active and prolonged engagement in the workforce.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode