The New Retirement

The New Retirement

How It Will Change Our Future

Written by:

Additional Formats
  • Hardcover
  • ISBN 9780670066889
  • 256 Pages
  • Viking
  • Adult


In The New Retirement, global economic strategist Sherry Cooper explains that the boomer generation will be reaching traditional retirement age very soon and the enormous wave of boomer retirees will crest in 2025. This phenomenon will profoundly affect the labour markets, the economy, and financial markets for decades. But will boomers retire they way their parents did? Will they work longer and transition gradually into semi-retirement?

Cooper tells us that boomers will redefine retirement with great energy and creativity, working well beyond age 65 and mostly by choice. With the dramatic rise in their longevity, healthy goal-driven boomers will seek purposeful leisure—focusing on regeneration, rejuvenation, and low-stress contributions to society and their own personal wealth.

Follow Cooper through her own journey to discover the route to financial security in this engaging and insightful read. Learn how the new retirement is about living well while achieving both monetary security and your personal goals.

The New Retirement is an indispensable roadmap to the best years of your life.

Table of Contents


Introduction 1

     What Will Boomer Retirement Look Like? 4

1. The New Retirement 7

     Living Longer and More Flexibly 11

2. The Generational Divide 18

     The Boomer Parents, Born 1901 to 1945 18

     The Boomers, Born 1946 to 1966 19

     Generation X, Born 1966 to 1976 27

     Generation Y, Born after 1976 29

3. Health and Achievement: The Keys for Successful Retirement 35

     Health Care and the Aging Boomer 37

     The Weaker Sex? 41

     The Crucial Shift from Late-Disease Care to Health Preservation 46

     The Wellness Boom 52

4. Canadian Boomers in a Global Context 57

     Younger Than the Rest of the G8 58

     Much Older Than Most Developing Countries 60

     Developing Economy Growth Is a Blessing for Canada 63

     The Growing Labour Shortage 68

     People Working Longer 74

5. The Aging Population—What It Means to You 83

     The Canadian Government Pension Plan—Well Funded, but Not So Generous 85

     The U.S. Social Security and Medicare System—Seriously Underfunded 89

     The Elderly versus the Rest 93

     Developing Economies Help Pay the Price 95

6. Lifestyle and Health Planning 99

     Humans Are Purpose-Driven 101

     How Do You Know When It’s Time to Stop Working? 103

7. Dollars and Sense 111

     The Widening Income and Wealth Gap 117

     Common Retirement Risks 123

     Beware 131

     Inheritance—Not Such a Big Windfall 132

     Heirs? 134

8. Have Boomers Saved Enough for Retirement? 140

     Pension Plans 140

     Pension Comparisons by Country 157

     Caution in Caring for Retirement Savings 159

     A Fool’s Game: Timing Markets 167

9. How Much Is Enough? Nest Egg Arithmetic 173

     Here Is How It Works 176

     How Did We Get the 4 to 5 Percent

     Withdrawal Rate? 179

     An RRSP Might Not Be Enough 183

     Why 15 Percent Is the New 10 Percent 186

     Ways to Stretch Those Retirement Savings Dollars 190

10. Health and Happiness in Act III 196

     Aging Well 197

     The Maturation Process 203

     The Bottom Line 206

Notes 210

Bibliography 222

Acknowledgments 231

Index 235