Why 65 No Longer Applies

Who decided 65 was the magic number?

Not you.

Because it started over 100 years ago.

When Otto von Bismarck set retirement at 70, average life expectancy was about 45.

When FDR set it at 65, average life expectancy was just 61.

The system wasn’t built for long retirements.

It was built for social stability.

That was then.

This is now.

Today, Canadians live well into their 80s.

Retirement isn’t a short tail end of life.

It’s a whole new stage.

An extra 20-30 years.

Work has changed too.

By 60, your body once ached from back-breaking labor.

Now, work is often done with your mind and aligned with your purpose.

It can be done remotely.

On your terms.

On your hours.

Pensions have changed.

Defined benefit is out.

Savings, RRSPs, and investments are in.

Family has changed.

Fewer multi-generational households.

Which means financial independence matters more than ever.

So why 65?

Because someone decided that long ago, for a world that doesn’t exist anymore.

Retirement isn’t about a number.

It’s about having a plan around:

Your lifestyle.

Your goals.

Your longevity.

We help you design retirement to live life on your terms.

When you’re ready visit morethanmoneyradio.com to join one of our seminars and meet others who are building retirement on their terms.

David Popowich and Faisal Karmali are Investment Advisors with CIBC Wood Gundy in Calgary. The views of David Popowich, Faisal Karmali, and guest author do not necessarily reflect those of CIBC World Markets Inc. This information, including any opinion, is based on various sources believed to be reliable, but its accuracy cannot be guaranteed and is subject to change. CIBC Private Wealth consists of services provided by CIBC and certain of its subsidiaries, including CIBC Wood Gundy, a division of CIBC World Markets Inc. If you are currently a CIBC Wood Gundy client, please contact your Investment Advisor.