Canadians are living longer than ever before, and the average Canadian reaching the age of 65 in 2013 can expect to live until age 87, which is about five years longer than the life expectancy of the average 65 year-old in 1970. Many retirees face the challenge of stretching their retirement savings over a longer lifespan than their parents and grandparents did.
The Financial Consumer Agency of Canada has put together a website addressing financial concerns of retired people. The website is called “Living in Retirement”. Check it out at: