Cdns willing to postpone retirement to help their kids: Report + MORE Dec 17th

One option you can consider to free up some much-needed cash to fund a comfortable retirement is to sell your house. This can make good financial sense on paper, but the decision is not as simple as simply contacting real estate agent and putting a sign on the lawn.
Your home holds many memories of times spent with loved ones. If you are thinking of selling the place where you raised your family or lived with a beloved spouse who has passed on, it can be very difficult to move on.
There is more than one solution to this issue, though. Before you make any decision, consider you options carefully to take into account your short and long-term financial needs.
Alternatives for a Comfortable Retirement When you Don’t Want to Sell your House
Take out a Reverse Mortgage
Many older Canadians have seen the value of their homes increase significantly over the years, and taking out a reverse mortgage is a way to access some of the equity while retaining ownership and control of the property. This type of plan is available to Canadians aged 55 and older…

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Half of Canadian parents say they would postpone retirement because of concerns about the financial future of their children.

I’m a CEO and I’m a baby boomer. The statistics tell me I’m not alone: a significant chunk of the 2.3 million SMEs in Canada are run by boomers on the verge of retirement.

We are in the midst of a serious succession challenge that needs to be tackled head on.

The problem is that right now, for every two retiring senior executives, there is only one suitable successor waiting in the wings. And the ratio is even bigger for SMEs. Unlike larger companies, we simply don’t have the huge pool of candidates coming up through the ranks.

Add to this, the constant risk of losing our limited top talent to south-of-the-border competitors. So it’s not surprising that we are in the midst of a serious succession challenge that needs to be tackled head on.

Many of these potential successors are millennials — that generation my fellow boomers take great pleasure in maligning. It would seem that a full 54 per cent of my peers consider these twenty and thirty-somethings difficult to lead and difficult to engage…

TORONTO – Half of Canadian parents say they would postpone retirement because of concerns about the financial future of their children.
In a a new report from BMO Wealth Management, Canadian parents with children aged 18 to 24 said they were willing to trade some of their own financial security to help out their kids in a changing economy.
Half said they would be willing to retire later than planned, one third said they would save less for retirement, and 22 per cent said they would take on debt.
Roughly the same proportion who said they would retire later than planned said they received little or no support from their parents when they were young adults themselves.
Can I retire early and travel the world? »
The biggest financial concern for parents about their children was financial problems caused by debt, followed by difficulties achieving financial independence and insufficient employment.
The so-called millennial generation of those born after 1980 faces different economic realities than their parents, especially after the 2008 financial crisis…