Life is good for retirees, RBC poll finds
Retirement means freedom from an alarm clock
TORONTO, November 20, 2007 — A majority of
retirees (79 per cent) believe that their quality of life
improved in retirement, according to the results of the RBC
Retiring Boomers Poll. And freedom from the daily grind of
having to use an alarm clock seems to be part of this improvement,
given that two in three retirees (66 per cent) say they never
use one.
"Not using an alarm clock doesn't mean retirees are
slowing down. In fact, our survey found that two in three
Canadians in the retirement window (67 per cent) are continuing
to live their lives at the same pace," said Lee Anne
Davies, head, Retirement Strategy, RBC.
However, boomers who have not yet retired are underestimating
what life will be like in retirement. While more than half
(56 per cent) of those approaching retirement feel that their
quality of life will get better, this is more than 20 per
cent below the actual experience of retirees.
Boomers are clearly focused on their health and wellness.
According to the survey, the vast majority of those in the
retirement window (90 per cent) say that they are becoming
more aware of the need for wellness and personal care. As
well, two-thirds of retirees (67 per cent) say they spend
more time looking after themselves than they used to, with
pre-retirees lagging somewhat behind (59 per cent).
"We expect that retirees will be taking better care
of themselves and will be living longer as a result. Those
who are approaching retirement need to think through the financial
implications of this new reality," Davies added.
A positive outlook emerges as a common theme, with a majority
of retirees (57 per cent) and pre-retirees (55 per cent),
stating that they are optimistic about the future. Both groups
may be hoping that this positive attitude will increase their
longevity, given that they also overwhelmingly agree that
happy people live longer (94 per cent). Despite some of the
fears associated with retirement, very few (about one in ten)
of those in the retirement window feel nervous or worried
when they think about their lives in the future.
"Good planning can help you make the most of your retirement
and minimize fears and anxiety," said Davies. "It's
unlikely that you will spend every day playing golf, so you
need to think about what will give your life meaning once
you retire, and our retirement life planning program can help
you with that."
The RBC Retiring Boomers Poll was conducted by Ipsos Reid
from August 3 to 8, 2007. The online survey was based on responses
from 2,037 adult Canadians between the ages of 50 and 69 with
household assets of $100,000 or more. With a sample of this
size, the results are considered accurate to within ±2.1
percentage points, 19 times out of 20, of what they would
have been had the entire adult Canadian population been polled.
The margin of error will be larger within regions and for
other sub-groupings of the survey population.
Your Future by Design® is RBC's distinctive approach
to help clients identify, plan, and realize their goals for
retirement. With the guidance of RBC financial planners and
investment and retirement planners, Your Future by Design
helps clients create a blueprint for a successful lifestyle
and financial plan for retirement based on what is truly important
to them in key areas in life, including family, health, home,
lifestyle, work/business, mind and spirit, and legacy. To
find out more about how RBC can help build a blueprint for
the future, visit www.rbc.com/yourfuture
or call 1-866-335-4055.
- 30 -
Media contacts:
Rina Cortese, RBC Wealth Management, (416) 974-6970
Jackie Braden, RBC Media Relations, (416) 974-2124
|
