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In one of our previous posts, we talked about two major concerns about retirement. There were being along and boredom. While these were quite important concerns, the other two are affecting 40% and 60% of the population. These are definitely the major challenges to a happy retirement. |
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Health Problems (2 out of 5 people)
Who doesn’t know a parent or close relative that got sick at the age of 55, 60 and couldn’t enjoy their retirement as they wanted? Even worse, some people die the very same year of their retirement.
Between the ages of 55 to 65, the risk of having a critical illness increases drastically. Besides eating healthy food and doing physical exercise, there is not much to do to avoid a heart attack. However, there are tools to ensure your dependants won’t suffer financially from your loss. Better than that, there are insurance products taht pay you an amount upon diagnosis and that include a search for the best hospital to cure your disease.
We all want to stay young forever. We all want to stay healthy. The problem is that we have little control over our future in terms of health. I guess this is why so many people are concerned about it!
Lack of Money (3 out of 5 people)
And we finally get to our main concern: lack of love… nah.. sorry! It’s the lack of money that worries the population! With your chances of hitting 100 years old increasing, the chances of outliving your capital increases at the same rate!
Believe me, it’s not with the government’s financial help that you will be able to live a happy retirement. You will need to rely on the 5 sources of revenue at retirement. It would be important to determine whether you will use all of them or if you will concentrate your efforts in building a rental property empire 
Personally, I suggest that you try to buy rental properties, contribute to your savings and registered plans (pension plan or government registered saving plans), start a small company on the side or that you keep working as a consultant for a few years. If you start young enough, you will be able to achieve all of these goals. At the end, you will have enough money to retire without any money worries.
I want to go golfing in the morning and still be able to afford a $200 dinner at night with my wife without counting how much I have left from the government’s cheque of $600 a month! I don’t know about you, but I think we all better start working on our retirement plan in order to avoid some of current retiree concerns!
