Most Canadian millennials think conventional approach to retirement is outdated

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Most Canadian millennials think conventional approach to retirement is outdated
MillennialsRetirement
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Times have changed and waiting until retirement to enjoy life is no longer the milestone Canadian millennials and Gen Z strive for, according to a ...

Times have changed and waiting until retirement to enjoy life is no longer the milestone Canadian millennials and Gen Z strive for, according to a recent survey.

The online money management platform says the study reflects ambition among millennials and Gen Z Canadians for"a modern form of retirement" that lets them pursue personal and professional passions throughout their adult lives. "This new outlook on retirement is motivated by more than a challenging economic climate," said Mike Katchen, CEO of Wealthsimple, in a news release.

The survey also found that early retirement has emerged as the go-to plan among 25 to 44-year-olds so they can start their own business, work at not-for-profits, or pursue a passion project — basically, not live to work for someone else.and to top it off, factors that helped previous generations get to retirement like buying a home are out of reach for a majority of millennials and Gen Z.

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