Yup, that’s what most Canadians are going to do, keep on working past age of 66. Fewer than a third of the respondents to this Sun Life Financial poll said they plan to be fully retired by 66. If I decided to do whatever one else is doing (which is not working if retirement is “maybe 66”) then that means I would have to work for at least another 33 years. Nope sorry that’s not going to happen.
However sadly for most Canadians they will be working past the age of 66 on a 1/3 of the income and a 1/3 of the energy that they used to have when well at my age! What’s even sadder is that a lot of these people are carrying debt with them…that’s just ridiculous. I’m forever grateful that I got around people that helped steward us to get out of debt so that we don’t have that stress in our life and so that we don’t take it to our grave. We’ve got money growing in the bank, not wasted away like some others may think on “tools” and products we’ll never use. That would be stupid, whoever tells you to buy stuff you don’t need, run the other way!
So if you get to that golden age of retirement at the age of 66+ and you want to live off your pension, I’ll give you a little example of what that precious magical pension may be worth. If you are a RN (Registered Nurse) for example, you’d bring in around $1,700 a month. Quite the income there. If your a LPN (Licensed Practical Nurse), you’d bring in $700 a month. These numbers are not fake, my step mother is a RN and that’s what she’s faced with, not to mention others who’ve also confirmed this outside of my family. There are still quite a few people out there thinking their pensions are going to take them to the promised land of retirement and the fact of the matter is they are kidding themselves. You’ll need either some significant investments outside of that or some other way of creating some residual style of income.
The funny thing is, build a solid platinum business with proper width in the Amway Business Opportunity and you could make just over double that pathetic pension of a RN. (not including Q-12 bonus) The benefit of that outside of monetary compensation is that you’ve helped some individuals or families have an opportunity to do the same as what you have. Again I’ll maintain we will never convince anyone to do what we do but the proof is in the pudding with the people we are working with and the many semi-retirement parties that happened last year.
It’s obvious through this article today (and many others) on CTV that the whole Freedom 55 or even Freedom 65 just isn’t working. People are looking for other opportunities and that’s exactly why this business and what we are doing is growing at a steady rate.