Here’s what retirement means to you

TD asked what retirement meant to you, and thousands answered.

It’s not just about withdrawing from your occupations. It means freedom, financial security and the ability to travel, say Canadians.

Read: 5 risks to retirement income

“It’s important to take the time to define what retirement means for you: it helps you get started on planning your finances,” says Cynthia Caskey, vice president, portfolio manager and sales manager, TD Waterhouse Private Investment Advice.

Chosen by a random draw, Kim from Toronto, Ont., had the winning submission and won $1,000. She said retirement is about: “Freedom!!! I would be able to relax and do the things that have meaning for me.”

Read: Retirement planning reloaded

Other recurring themes included financial security (27%), the ability to travel (25%), escape from the ‘nine-to-five grind’ (21%) and spending time with friends and family (14%).

Here are some popular answers:

• “The absence of ‘I have to…’ ” – Sharon, Trail, British Columbia
• “Being able to resume my childish ways, (but with more freedom), because my allowance is a grownup size” – Bernice, Ottawa, Ontario
• “An RV, the love of my life, a GPS, a full tank of gas … coffee and an open road to travel … throughout the country!!!” – Crystal, Fort McMurray, Alberta

Read: Retirement date a surprise for many

“To help maximize your retirement savings, consider having a balance of conservative and growth investments, based on your comfort level and the number of years you have until retirement,” advises Caskey.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.