Retirement Planning & You

Retirement Planning & You: Your Long Term Financial Goals

Do Your Actions Align with Your Long Term Financial Goals?

Posted on June 1, 2019
It’s important to take a look at your financial picture to see where you are at at any age but, even more so if you are nearing retirement.

Make a list of steps you need to take to assure that your future actions align with your long-term financial goals.

CBIC poll, shows that last year people thought that $756,000 is the average amount that Canadians think they’ll need in order to fund the retirement lifestyle they’d like.

Yet, among those nearing retirement or on the cusp—those aged 45 to 64—of it, 32 percent haven’t saved anything for retirement.

Among those with retirement money stashed away, the average value of their fund is $345,000, though nearly half (49%) have saved less than $250,000.

Here’s some data on how Canadians are faring when it comes to taking the steps —like knowing what income retirement needs will be and making regular deposits into retirement accounts— needed to have a shot at a financially healthy retirement.

Canadians describe their retirement savings plan - chart

Prospective Buyers’ Motivators
CMHC talked to first-time buyers, previous owners, and current owners about things like their housing expectations, home purchase drivers, and concerns.
Here are three key findings.

  1. Key motivators. Improved accessibility (physical obstacles and barriers) and investment opportunity were top motivators among all three groups. The desire to stop renting was a top motivator for both first-time buyers (65%) and previous owners (60%).
  2. Move-in ready. First-time buyers (43%), previous owners (44%), and current owners (48%) all say an existing move-in-ready home is their top choice. But some are willing to buy a property that requires renovation. That option appeals to 14% of first-time buyers, 11% of previous owners, and 7% of current owners. Some want brand new homes, including first-time buyers (19%), previous owners (21%), and current owners (32%).
  3. Home purchase prices. More than half of first-time buyers (54%) and previous owners (54%) plan to spend under $300,000 to buy a home, and about 25% intend to spend between $300,000 to just under $500,000.

But just 33% of current owners are planning to spend under $300,000, and 34 percent are looking for options over the half-million dollar range.


I AM AN SRES®

I have extensive training and experience to support clients ages 55+. SRES® accredited REALTORS® go the extra mile for you, with answers to questions you may have regarding aging in home ownership specializing in Langley, Surrey, Cloverdale, Aldergrove & surrounding areas.

Contact Rosemary at 778-834-8021 or email rosemary@homesinlangley.ca if you have questions, or simply need the right professional to help you move onto the next exciting stage in your life.

Seniors Real Estate Specialist® in Langley BC

Gated Townhouse Communities for Retirement Living

Browse our selection of condo and townhouse communities in the Langley area that offer gated security, amenities and a carefree lifestyle.
Forest Green Estates - Secure Adult +55 Community

9080 198 Street, Walnut Grove, Langley

Adult Living at Forest Green Estates
Forest Green Estates is a secure, adult (55+) community situated in a park-like setting where old growth trees and abundant green space make for a quieter lifestyle than one would find in most communities. Living here is a get-away you can take everyday, and homes are like cottages in the woods surrounded by pathways and walking trails.

Glenwood Village Estates - gated 45+ townhouse community

21746 52 Ave, Murrayville, Langley

Pet Friendly Rancher Style Townhouses
A gated 45+ community featuring carefree living with beautifully landscaped grounds, pond and fountain, clubhouse and RV parking. Glenwood Village Estates in Murrayville offers duplex style rancher townhouses with attached garages in a prime location with walking distance to restaurants, shopping, coffee shops, transit, recreation centre and hospital.

Huntsfield Green - gated 55+ community with swimming pool

19649 53 Avenue, Langley

Gated 55+ Community with Swimming Pool
Huntsfield Green is a popular gated community catering to adults aged 55+ and features spacious rancher style townhomes with double garages and private backyard/patio. Amenities include club house, exercise centre, outdoor swimming pool, hot tub, billiard room, workshop, and wheelchair access.



Get In Touch

Rosemary Papp

Phone: 778.834.8021

Email

Office Info

RE/MAX Treeland Realty

101-6337 198 Street  Langley,  BC  V2Y 2E3 

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