September 27, 2010
Boomers Retirement Lifestyles
Did you know that baby boomers are rewriting the book on retirement lifestyles? A recent Royal Bank poll found that the vast majority of retirees say they are having a successful retirement (95%), with the biggest secret to success being realistic expectations (30%). Retirees say they are currently living on 56% of their pre-retirement income, indicating that spending drops significantly. Still, 64% of retirees in the 60-69 bracket return to work. Reasons include boredom (37%), need the income (32%), see work as a hobby (13%), to pay for kids’ education (9%) and to fulfill a lifelong dream (9%).
