hen do you make the life decision to walk across the dance oor of life and extend your hand to the retirement plan you have chosen and hope to embrace? The decision on when to retire begins before retirement. Second guessing if you made the correct timing decision may carry on well into retirement. Some of you may change your minds either for nancial or lifestyle reasons. You may even choose to return to work. McKinsey & Co. research sheds some light on this important milestone in life. The percentage of retired Canadians will double from 11 per cent in 1990 to 22 per cent by the year 2030. The duration of retirement is also increasing. People are entering the workforce one year later and retiring two years earlier. Based on this information, the number of years in retirement has grown by three years. In Canada, life expectancy as well, over the last three decades, has grown by three years. Add in the shorter time spent in the work force to an extended life expectancy and retirement now is six years longer. That is ne if you have an indexed pen- W When is it the right time to embrace retirement? Dollars & Sense Guest Contributor Personalized Tree Care in Oakville 17 | Thursday, February 19, 2015 | OAKVILLE BEAVER | www.insideHALTON.com Peter Watson Call Storybook to assess your Trees Today 905-491-6860 sion, which is unfairly limited primarily to government employees. For the rest of us "pay-as-you-play" workers planning for retirement, we are faced with the daunting question of whether we will outlive our capital. Back to the original question. When is the right time to embrace retirement? The nancial goal for retirement is to maintain your desired lifestyle. How can you maintain the same quality of life? The McKinsey report provides some good and bad news. On the positive side, 83 per cent of Canadians are on track to retire and maintain their desired standard of living. The gure is not good for those without see Wage on p.20 Buy 2 PairS come in and take a look. huNdredS of deSigNer fraMeS to chooSe! (@ dorval iN the toyS r uS Plaza, Next to lcBo) 300 North Service rd W. Icare optIcal Kate Spade · dolce & Gabbana VerSace · tory burch · Juicy couture P coach · Jimmy choo · armani rogreSSive eNSeS Gucci · SalVatore FerraGamo · burberry (Nol -liNe Bifo cal) boSS · michael KorS · maui Jim · & more! $169 leNSeS $ froM oNly *See Store fo r detailS free eSSilor 99 eye exaM oN Site 905-842-2005