Subscribe to our Newsletter Subscribe to our Magazine
piggybank-real-estate-investments

When it comes to longevity and retirement planning, a new poll from Sun Life Financial and advocacy group CARP has found that planning and expectations aren’t matching up.

Almost one-third (30.8%) of respondents will rely on selling investments in real estate to support their retirement and over half (52.1%) have not factored long-term care costs into their retirement plan.

Additionally, 87.7% expect to live past age 80 and 32.7% expect to live past age 90. Forty percent of respondents are worried about outliving their savings.

“Even with recent reports about the softening of the home sales market, these poll results show that one third of respondents are counting upon selling property to support themselves during their retirement,” said Kevin Dougherty, president, of Sun Life Financial Canada. “At the same time, many have not factored in what it might cost if they need long-term care with forty per cent of respondents worried about having enough money – creating some gaps in their retirement planning.”

Sun Life Financial and CARP surveyed CARP members over four days. CARP is a 300,000-plus member organization

© Copyright 2014 Rogers Publishing Ltd. Originally published on benefitscanada.com
See all comments Recent Comments

Ian Goodland:

In your article “many plan to sell real estate to fund retirement” long term health csare is mentioned. Are there any studies that estimate what this may cost on average?

Thank you

Thursday, October 25 at 2:22 pm | Reply

April.ScottClarke@rci.rogers.com:

The information we provided did not have any numbers related to this. Consider contacting those quoted in the article.

Thursday, October 25 at 2:29 pm | Reply

Joe Nunes:

Funny, the Baby Boomers plan to sell their homes to finance retirement – but their children and grandchildren are having trouble finding well paying jobs and can’t afford the homes of their parents. Eventually home prices will decline (especially in the big cities) as the next generations learn to live on less

Wednesday, October 31 at 11:08 am | Reply

Connor:

(Magazine) I’ve read other personal fiannce magazines before and found them to be either too basic to be worth my time, or too focused on some obscure area. I’m not a financial professional, but I like to constantly increase my knowledge of personal fiannce. Kiplinger’s has been great for that. I skip 80% of the articles in this magazine, but that still leaves one or two in every issue that teach me about an area I didn’t know about where to buy bonds online the most cheaply, how to find good financial advice, why options are priced the way they are. One good article pays for the entire annual subscription. Each issue has a wide range of articles appealing to lots of levels of experience.

Sunday, November 25 at 4:34 am | Reply

Add a comment

Have your say on this topic! Comments that are thought to be disrespectful or offensive may be removed by our Benefits Canada admins. Thanks!

* These fields are required.
Field required
Field required
Field required