Читать книгу Finances After 55 - Sylvia Lim - Страница 6

As in the United States, Canada also has a large baby-boom population. Baby boomers make up by far the largest percentage of the Canadian population. The average Canadian baby boomer at present is somewhere in his or her 50s. This group is one of the wealthiest in the Canadian population base, and it is also the best educated. If not contemplating early retirement, many Canadian baby boomers are already enjoying it in great numbers.

Retirees make up one of the fastest growing groups in Canada. According to Statistics Canada, by the year 2010, more than 14 percent of the population will be aged 65 years or more. By 2020, that group will increase to more than 18 percent of the total population, and its growth shows no sign of slowing. By 2030, almost one in four Canadians (or 25 percent) will be 65 or older.

Life expectancy is steadily on the rise. Canadians are gaining two to three years of life with every passing decade. For an average Canadian male currently aged 55 years, life expectancy is 80 years. For an average Canadian female of the same age, life expectancy is 84 years. (Source: Report on the demographic situation in Canada 2002.)

Canadian seniors also appear to be much more financially secure than their predecessors, if wealth (and not just income) is included in the equation. Surprisingly, more than 73 percent of senior households have no debt. In the past 15 years, income for seniors has risen faster than income for those less than age 65. In fact, half of all seniors are living within their means, suggesting that savings continue well into their retirement years. (Source: Statistics Canada.)