A financial advisor believes we need to start saving for retirement at a younger age.
New data reveals nearly 70% of retirees did not stop working on the date they planned – in most cases due to unexpected health issues.
Sun Life Financial’s Kevin Williams says for some people – depending on their injury – they can never go back to work.
“86% of Atlantic Canadians recognize that a serious health event could impact their personal finances, but only 10% understand that they are confident that they can have the ability to finance a retirement, so you’re seeing a big shortfall,” says Williams.
A recent survey shows more than 80 percent of respondent realize they could be faced with a serious health event at some point in their life.
However, of those who said they were aware, most weren’t saving to ensure they could weather the storm if it arrived.
