this post was submitted on 24 Apr 2024
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Young Canadians think retiring at 65 is an outdated concept (financialpost.com)
submitted 7 months ago by [email protected] to c/[email protected]
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Canadians’ views on retirement are shifting dramatically, with the idea of retiring at age 65 being one of the early casualties. Read more.

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[–] [email protected] 14 points 7 months ago (1 children)

A lot of bits in that article sound weird but on the whole the traditional retire-at-65 concept is definitely fading away. I think it underplays how much of that is affordability (how many people even think they'll be able to retire at 65?) but even then I'm seeing friends take long breaks from work regardless of retirement, I'm seeing people work less traditional jobs that they can find different fulfillment in, and I know a rare few who are past retirement age and asked if it was okay to keep working because they love what they do.

I'm personally planning on retiring at 55 when my pension hits the point that it can easily support me, even if another decade of work would grow it further. Who needs money when you have another decade of healthy life? As we learn more about longevity and aging it's looking more like I'll have more healthy years ahead of me than any of my grandparents did and I may as well use them.

[–] [email protected] 4 points 7 months ago

The article sounds weird because it's the Financial Post and they're desperately trying to ignore the elephant in the room: that we stole the future from the young to pay for tax cuts for the old and rich in the now.

They can't say it. They can't say "Millenials and younger have pretty much given up on the possibility of retiring, what with inflation, education costs and housing unaffordability having killed their ability to build equity. Defined-benefit pensions are long-gone, and even defined-contribution ones are vanishing in favour of stock schemes designed to enrich today's investors. They aren't planning to retirement because they don't see much of a future".

You're goddamn right the article undersells the affordability issue, because the fucking Financial Post is owned and run by the people that caused the problem in the first place, and continue to profit off it to this day.