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Few Canadians looking to go traditional retirement route, finds report

The traditional path to retirement in Canada is dying, based on the findings of a recent study.

About three-quarters (74%) of Canadians between the ages of 24 and 44 say the conventional approach to retirement – where they stop working at age 65 to finally live a life of leisure – is an outdated concept.

Only seven per cent of 18- to -24-year-old workers are planning for traditional retirement, reports investment management service firm Wealthsimple.

Why do so many people want to retire early?
Over two in five (41%) they are motivated to retire well before age 55.

This is so they can chase bigger ambitions related to small business, consulting, not-for-profit, a passion project or creative pursuit, reinforcing a growing desire to work to live — or at least, not living to work for someone else, according to Wealthsimple.


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