Published on 28 May 2024 on Insider Monkey via Yahoo Finance
The Best Place to Retire in BC (British Columbia) on a Budget
In this article, we take a look at the best place to retire in BC (British Columbia) on a budget. If you wish to see our full list, please switch over to 12 Best Places to Retire in BC (British Columbia) on a Budget.
On Retiring to Canada
Concerns regarding retirement security are becoming increasingly common among Americans. Lincoln National Corporation (NYSE: LNC) reports that having enough income in retirement is the #3 ranked concern among consumers across all generations. For their Canadian counterparts, the situation isn’t any better. A survey on financial uncertainty by Primerica, Inc (NYSE: PRI) shows that retirement savings were the 4th biggest concern among Canadians, impacting 36% of respondents. Amid the rising cost of living and longer life spans, it is easy to understand why so many people are concerned about retirement savings. In a study on the Canadian retirement system, Deloitte reported that 86% of pre-retirees (aged 55-64) are at risk of running out of money during retirement. Retirement concerns in Canada have amped up during the last 5 years, as revealed in a study by the Royal Bank of Canada (NYSE: RY). According to the study, the proportion of Canadian retirees concerned about outliving their retirement has increased from 37% in 2018 to 43% as per the latest surveys.