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Toronto, Canada — There are many definitions of retirement based on the premise that it marks the end of your full-time career. One dictionary even defines retirement as “a withdrawal from one’s position or occupation or from active working life. “However, for many Canadians today, retiring is about much more than just leaving the workforce. People are living longer, working later into their lives, and are spending a larger portion of their lives in retirement than previous generations. If the reality of retirement is changing for many people, isn’t it time the definition of retirement changed with it?
“Slowing down and enjoying your golden years means different things to different people,” says Cynthia Caskey, Vice President, Portfolio Manager and Sales Manager, TD Waterhouse Private Investment Advice. “You can choose to continue working part-time, consult, volunteer, go back to school, open your own business – the sky is the limit. So with all these choices, we can see that retirement is changing. Shouldn’t the definition change too?”
With this in mind, TD is asking Canadians to submit their own definition of retirement. Just visit www.redefineretirement.ca from Sept. 10 until Sept. 26, 2012, and provide your contact information and your own new definition of retirement in one sentence. For submitting your definition, you’ll be entered into a draw to win $1,000, which could be used to help top up your retirement savings. The contest winner will be announced in a press release that will be issued the week of Oct. 22, 2012, and on TD’s Facebook and Twitter pages.
“In general, we’re remaining healthier and more active longer in life, which means that many are spending more years in retirement. We’re inviting Canadians to really think about what their ‘ideal retirement’ will be like, and consider how they want to spend their time, who they want to spend it with, and whether or not they will stop working completely,” says Caskey.
“It’s important for Canadians of all ages, not just those approaching retirement, to think about the lifestyle and activities they’ll want to be involved in – and then consider the finances that will be needed to support this,” adds Caskey. “The earlier you start thinking about your retirement dream, the sooner you can start saving to make sure it comes true.”