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Retirees in Quebec: A Family Picture

August 15, 2019
François Dupuis, Vice-President and Chief Economist
Mathieu D’Anjou, Deputy Chief Economist • Joëlle Noreau, Senior Economist

Retirement is a day some people aspire to, while others must postpone it. Although retirement has long been seen as the ideal break, more and more people are looking at it as the longest period of freedom they get. However, it doesn’t take much to realize that something that was once seen as a period in which everything slows down is no longer quite accurate. Retirement involves a plethora of situations, and clichés must be banished. Retirees are active in the real estate market; some of them have assets, while others don’t. A good many people 65 and older carry debt. Career extension, as shown by the increase in the participation rate of people aged 60 to 64 and 65 to 69, does not seem to have allowed everyone to build the financial foundation needed for a worry-free retirement. More and more people will be hitting 65 and wanting to leave their jobs, meaning that substantial preparation is needed.

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