With the ongoing pandemic, more Baby Boomers are being forced into early retirement than ever before. According to a Forbes article Baby Boomers are retiring in higher numbers with an increase in retirements of 50% over 2019. For late-stage Boomers who have not retired yet, this is a good example of how being prepared for retirement is critical. Retirement is a life transition and not a transaction – one that should be carefully planned for.
With limited international travel available, exploring retirement options this spring in Ontario is a great starting point. By creating an early retirement plan means Baby Boomers can downsize their home sooner and aid in an easy transition into a new stage of life.
Out with the old, in with the new
Spring is about removing the old and welcoming in the new. It is about letting go of items you have no use for, and creating space for new family traditions. Since most of us had time to do our spring cleaning and already cleaned out the closets, this is the time to start thinking about where to downsize. Downsizing, or right-sizing as we like to call it, begins with planning. Being prepared early and developing a plan to downsize, gives Baby Boomers the clarity they need to move forward. So hit the road Jack!
Spring has sprung
With the pandemic and a cold winter keeping people inside, getting outside now is not only great for mental health but also a great way to plan your retirement. Make the most of the spring season by venturing out to see new communities while flowers are in bloom. Ontario has many communities that offer Baby Boomers the opportunity to live an active life on their own terms. Travelling to explore Niagara, Collingwood, or Kingston is achievable as a day trip for people in the GTA. Along the way, there are coffee shops, historical landmarks and all the beautiful scenic views, Ontario – is yours to discover! (please follow COVID-19 safety guidelines)
Downsizing early provides financial freedom for Baby Boomers pursuing a renewed purpose in their retirement. This spring is the perfect time to build a downsizing plan and find the perfect community.