Archive for category Research

“Retirees” set to outnumber newly hired…

Hmmm. Talk about a paradigm shift! Well, I’ve been talking about a paradigm shift (in this blog and elsewhere) for some time now but now we’ve got some hard core demographic stats that can’t be ignored.

Front page in yesterday’s Globe and Mail, the headline reads: “Baby bust: In the first, the newly retired outnumber the newly hired”

According to Statscan’s demographic division, at some point this year, the number of 15-24 year-olds will slip below the number of 55-64 year-olds.

Raises a lot of questions:

For boomers – will this cohort of ‘older’ workers influence the employment landscape to abolish (or reduce) ageism as employers struggle to retain talent?  And boomers – do you want to stay on in the workforce? Do you have to stay on due to financial reasons? What are your plans for staying on….change careers? Modify? Tweak? Or keep things exactly as they are for a while? If scaling back, what does your work-life portfolio look like?

Lots of questions with a call for planning. These are indeed interesting times!

To your UNretiredLife!



In related news, Sunlife

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Canadian Boomers are gearing up not shifting down (research)

I love it when research affirms what I’ve been saying for quite some time:)  According to a recent survey by Investors Group, Canadian boomers are gearing up and not shifting down in retirement. They won’t be knitting by the fire and taking long Sunday drives (what’s wrong with that?!) – that last comment is according to Debbie Ammeter, spokesperson on the survey.

Well I agree. My earliest posts here talk about how boomers won’t be heading off into the pasture. They’ll be creating new adventures. Those who have a plan that is. Not just financial but a life plan. Do you?

You can read the press release here

The message is bang on: if you are a boomer, you likely have years and years ahead of  you in the so-called-retired life. You are not ready to roll over…..but perhaps spring into a new chapter.

Whachhya gonna do? Who ya gonna be? Lots to chew on – it’s an important life stage. Don’t wing it! 

To the UNretiredLife!


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Never Going to Retire? Join in…

Are you uncomfortable with the “R” Word?

Mention the word retirement and a lot of boomers defiantly say: “Not me – I’m never going to retire!”

Well, not an unfamiliar reaction. In fact, 31% of boomers in an RBC poll – said the same thing.  Another 51% said there was no appropriate age to retire – it’s up to you!

I couldn’t agree more!  That is why I am calling this blog (and my programs) UNretiredLife! Because many of us will delay the ‘hard-stop’ retirement and instead either continue to work in the same career, recareer, and/or start to test-out and ease into a different kind of work-life balance.

We boomers are known to ‘live to work’.  Despite the complaints along the way, work give us a lot more than just a paycheck: we get intellectual stimulation, the satisfaction of contributing, a place to test our mettle, develop skills and grow ourselves.  Along the way we self actualize, connect with people to ‘play with’ — and a whole bunch more. And yes, that paycheck is critical. Many of us will continue work for financial reasons.

But does that mean you don’t have to plan for your life and work? Heck no!!!

The biggest mistake people can make is to float along and delay the reflection and planning that is critical to ensuring your next stage of life — whether you work or don’t — is working for you!  We all know how important the financial planning piece is. Well the life & work planning is equally critical — and will make your financial planning that much more meaningful.

What will you do when you grow up (do we ever grow up?)? What are the career possibilities for you in the next stage of life? Will you shift career gears or continue in the same lane? Full time/part-time/contract – solopreneur anyone?

Those are just a few of the career question but there’s more: And what about the balance side of things? Will you delay that till you eventually do the ‘full stop retirement’ — or might that be an area to tackle first while you are working?

So whether you call the next stage of life ‘retirement’ or “Unretirement” — you still gotta plan! Financially of course. And for life.

WORKSHOP: That’s what my Retirement 2.0 program  is all about It’s the next version of ‘so-called-retirement’ and isn’t just for people planning ‘hard-stop’ cessation of work. It’s for boomers who want to make the most of the next stage of life (work optional!) — but perhaps haven’t yet had the chance to think it through. We’ll bring guidance, reflection prompters and challenges to your assumptions.  And it will be fun! At least that’s the intention:) 

SO….Care to join me and some Big Cheese Boomers starting June 24th?

Get in touch! Would love to have you there.

To success in the UNretiredLife

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Rethink Retirement Survey says….

Desjardin Financial Security recently released its 8th annual Rethink Retirement(TM) survey and re-affirmed the notion that retirement ‘aint what it used to be’.

More than three in ten people between ages 53 and 62 said they were more than five years away from retirement, and only 23% hope to stop working completely once they retire.  These two points alone re-affirm what UNretiredLife has been saying: retirement may have nothing to do with old notions – like stopping work completely. This phase of life is being turned upside down!

Transition to Retirement vs. Hard Break: The old paradigm of retirement saw people go from full time work to complete retirement.  Today, more and more are taking a more phased approach and transitioning their work life.  According to the survey:

  • 16% of retirees continue gainful employment
  • 8% of today’s workers (including partial retirees) were once fully retired before returning to work. This proportion rises to 42% among partial retirees.
  • The main reasons for going back to work: needing more money for personal projects (46%) and wanting to counter the negative effects of economic situation on retirement income (29%).

Hmmm. “Needing more money for personal projects”. That last bit  intrigues me.  As per some of UNretiredLife’s earlier posts – boomers will not be retiring on the porch. They have plans, needs, aspirations!

While it’s no secret the economy has had an impact on Canadians’ nest eggs, that ‘personal project’ part echo’s some of the  ‘meaning-seeking ‘ mantra of boomers and other research finding’s (SunLife Financial’s UNretirement Index released January 2009).  

In Sunlife Financial’s UNretirement Index survey released in January 2009, “Nearly half of working Canadians said they believe they will be working past the traditional retirement age of 65.  This is in sharp contrast to the average Canadian retirement age of 61 in recent years. Nearly all of those who expect to work beyond age 65 cite one or more lifestyle reasons, including remaining mentally active, enjoyment of their jobs and the interaction with their co-workers.”

Now don’t get me wrong: the financial side of retirement is and always will be critical to one’s success and fulfillment in their retirement years. I’m a  huge proponent of financial planning (it’s a big part of my professional life!). But it’s not the only lens to view ‘what needs to happen to ensure success in retirement’.  Boomers will continue to engage in work, career, and a whole range of activities for both financial reasons AND to derive meaning from their life.

….which opens up a whole new dimension to retirement planning doesn’t it? …and that’s why were are here :)….to help boomers vision and create their own version of retirement.

To your UnretiredLife!


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