Most young adults think retiring by 65 is outdated: survey

Canadians are shifting their perspective on retirement, according to a new survey.

Wealthsimple released survey findings on Thursday, which showed 74 per cent of Canadians between the ages of 24 and 44 say retiring at 65 to pursue a life of leisure has become an outdated concept. In a news release, the financial services company said the results reflect shifting attitudes toward retirement among Millennial and Gen Z Canadians that allow for personal and professional passions during adulthood. 

“This new outlook on retirement is motivated by more than a challenging economic climate,” Wealthsimple Chief Executive Officer Mike Katchen said in the release. 

“It’s a new perspective on the future driven by younger generations. They are looking for flexibility, personalization and control over their future, rather than feeling controlled by conventional wisdom.”