A survey released earlier this year from Canada shows just how much emotional planning for retirement is needed. The Investors Group, a financial services company based in Winnipeg, surveyed about 600 employed Canadians, 45 years old and older, and found that many aren't quite ready for retirement.
The retirement readiness survey revealed weaknesses in personal retirement readiness such as:
* Only 20 percent of working Canadians, 45 years and older, have a strong commitment to activities outside of work.
* 30 percent are not involved in activities outside work that give them an opportunity to make new friendships.
* 35 percent spend less than three hours per week immersed in activities outside of work or passive entertainment such as reading or watching TV.