Retirement rendez-vous - Chronicle N°8

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Working: A retirement project?

Retirement means different things to many people: for some, it means traveling, while for others, it’s a time to spend with friends and family, pursue recreational activities or volunteer. The reality however is that more and more potential retirees are choosing to extend their stay on the workforce and keep working into their retirement years. Some are even returning to work after they’ve retired.

Charles de Kovachich: Investment Manager


As a retiree, a popular reason you may continue to work is for personal fulfillment. Working not only allows you to stay active mentally and physically but also broadens your social circle. Moreover, it enables you to share your knowledge and experience as a legacy to younger coworkers.


If you did not have the career of your dreams during your working life, retirement can also be a time to try something new or begin a second career - one that may be more aligned with your personal interests or hobbies. For instance, if you're a fishing fanatic, retirement can be a perfect time to start an outfitting operation and share that passion with others.


Besides the psychological and social benefits, working during retirement has the advantage of providing an income, so you rely less on your retirement savings. Your savings can then potentially grow and last longer.


Ultimately, having professional aspirations at retirement can be beneficial, from both a financial and psychological standpoint. But while some people willingly return to the workforce upon retirement, others do not have the luxury of making that choice. In fact, nearly 30%[1] of retirees come out of retirement because they struggle to make ends meet.


To avoid falling into that trap, carefully planning your retirement can stack the odds in your favour. In other words, don't leave anything to chance! Write out your retirement plan, including the age at which you would like to retire and the professional aspirations you would like to pursue. Planning can put a fulfilling and successful retirement well within your grasp. So even if you return to work at retirement, it will be of your choosing - and not because you were suddenly forced into it.





Charles de Kovachich

Investment Advisor

National Bank Financial



[1] Source: National Bank Retirement Index, survey of 1,060 respondents in Quebec and 505 respondents outside Quebec conducted by Saine Marketing for National Bank Financial Group, from May 20 to June 6, 2011.

Organizations: Retirement chronicle National Bank

Geographic location: Quebec

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