Retirement means freedom from an alarm clock
TORONTO, Nov. 20 /CNW/ - 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
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
Your Future by Design(R) 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.
For further information:
For further information: Media contacts: Rina Cortese, RBC Wealth
Management, (416) 974-6970; Jackie Braden, RBC Media Relations, (416)