Retirement is a time we all dream of – filled with vacations, hobbies, and those long-awaited getaways. But, are we Canadians truly prepared for it? Canadians are living longer, with life expectancy now at 79 for males and 83 for females. However, financial preparedness for retirement is a concern:
– Savings Anxiety: 4 out of 10 Canadians aged 55+ worry about outliving their savings, and 40% may face debt post 65.
– Long-Term Care Costs: By 2036, 50% of Canadians aged 75 may need long-term care, challenging due to a 3% annual healthcare inflation.
– Young Adults at Home: Over 42% of young adults (20-29) continue to live at home, seeking support.
One solution is a reverse mortgage, allowing homeowners aged 55+ to access up to 55% of their home’s value without immediate repayments, ensuring a comfortable retirement. Want to explore this option? Reach out to the experts at Mimortgage.ca at 1.866.452.1100 at anytime. Let’s ensure your retirement is as dreamy as you envisioned.
