Retirement is a time to look back and enjoy the golden years. This is the time to relax, travel and do what you dream of. Sounds great, and many Canadians may not be able to get close to their 1950s and 1960s.
Many baby boomers in Canada today face more economic pressure than ever before. For many of these Canadians, the need to return to the workforce after formal retirement has become an unfortunate reality. Many people simply cannot afford to retire. With monthly payments for mortgages, vehicle loans and credit cards, this may not be possible. Other factors that may hinder retirement may include financial support or divorce for family members. In addition, with the increase in the cost of living each year, pensions alone may be difficult to live with.
Some baby boomers choose to continue working and stay active because of their personal achievements. However, for economic reasons, more and more older workers choose to continue working during the retirement age. Another trend for older workers is to return to the labour market on a part-time basis. The baby boomer generation who choose to stay with staff over the age of 65 may pose a threat to young workers who have just entered the labour market.
More and more baby boomers are in debt during their retirement age and are under-storage. If you want to avoid doing well in retirement age, you need to have a plan.
Orignal From: Why baby boomers return to work after retirement
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