Monday, March 28, 2011
have something to retire to.
~Harry Emerson Fosdick
In doing a Google search for “retirement readiness,” the first several pages of results focused on financial readiness. This likely makes sense; in 2009 MacLean’s magazine did a series on Canada’s Retirement Crisis in which they noted that two-thirds of retirees are going to be underfunded and, when surveyed, 18-34 year old workers reported saving less than 10% of their income for retirement. The reality is that financial preparedness is a key component of a long and happy retirement; however, it isn’t the only thing to consider.
There are many other factors that contribute to a happy retirement including taking care of yourself, redefining your identity, and engaging in continuous learning. While it might seem more appropriate to think about retirement as the date is looming, retirement readiness really begins at the start of your career.
Regardless of what career stage you’re at right now, take a moment to consider your retirement; select 2-3 tips from our Prepare for Retirement tip sheet, develop SMART goals for the tips you select, and set some milestone dates to monitor your progress.
Remember retirement readiness is an ongoing process; something to keep in mind throughout your career.