Silent Partners: Majority of Canadian Boomers have not discussed retirement with their spouses or partners, RBC Poll finds

 Silent Partners: Majority of Canadian Boomers have not discussed retirement  with their spouses or partners, RBC Poll finds  Genders have vastly different ideas about how to spend their post-career years  TORONTO, July 16, 2014 /CNW/ - More than two-thirds (68 per cent) of  not-yet-retired Canadians aged 50 and older have yet to discuss their hopes  for their post-career lives with their spouses or partners, according to the  latest findings of the annual RBC Retirement Myths & Realities Poll.  Three of the topics these Canadians have been most reluctant to discuss with  their significant others:            --  How either will manage if the other encounters health issues             (86 per cent)         --  How either will manage if the other passes away prematurely (81             per cent)         --  What activities they will do in retirement (65 per cent)  "Couples often have more conversations about what they'll be doing over the  summer or winter holidays than what they hope their retirement together will  be like," noted Bill Hill, national retirement planning consultant, RBC. "Yet  one of the most important discussions you can have as a couple in your 50's or  older is around the future lifestyle you're hoping for when you're no longer  working 9 to 5. You want to do everything you can now, to ensure your  retirement years will be equally enjoyable for both of you."  The RBC poll found only 36 per cent had discussed how they will finance their  retirement and where they will live once retired. At the same time, the poll  also revealed that men and women have very different expectations about how  they will occupy their time during retirement.  While 57 per cent of men expected to spend more time with their spouse or  partner, only 52 per cent of women expressed the same sentiment. Women were  much more interested in spending more time with family other than their  spouses or partners (53 per cent compared to 37 per cent of men), with friends  (51 per cent versus 36 per cent) and as volunteers (63 per cent versus 50 per  cent).  "The differences men and women are expressing separately make it all the more  important for them to discuss retirement together," added Hill. "We've seen  with our own clients how sitting down as a couple with a financial planner can  really open up these conversations. Talking through the possibilities makes it  easier to create a retirement that works for both partners."  About the Fifth Annual RBC 2014 Retirement Myths & Realities Poll This annual poll examines Canadians' expectations and experiences in  retirement. It was conducted via online interviews by Ipsos Reid from March 3  to 18, 2014, using a national sample of 3,871 adults aged 50 and over with  household assets of at least $100,000 from Ipsos' Canadian online panel. A  survey with an unweighted probability sample of this size and a 100 per cent  response rate would have an estimated margin of error of ±1 percentage point  19 times out of 20 of what the results would have been had the entire  population of adults in Canada been polled. All sample surveys and polls may  be subject to other sources of error, including, but not limited to coverage  error, and measurement error.  About RBC's financial planning advice and resources Your Future by Design is  RBC's distinctive approach to help Canadians identify, plan, and realize their  goals for retirement. With the guidance of RBC Financial Planning, Your Future  by Design helps Canadians create a blueprint for a successful lifestyle and  financial plan for retirement based on what is truly important to them in key  areas in life, including family, health, home, lifestyle, work/business, mind  and spirit, and legacy. To find out more about how RBC can help build a  blueprint for the future, visit rbc.com/yourfuture or call our toll-free  number at 1-866-783-6024. Our online resource centre Seniors Finance and  Caregiving includes comprehensive caregiving and Power of Attorney information  for Canadians to help them plan for a successful retirement. In addition, for  Canadians who want to get more from their day-to-day banking, protect what's  important, save and invest, borrow with confidence or take care of their  businesses, the RBC Advice Centre can help answer their questions. Further  information is available at rbcadvicecentre.com.    SOURCE  RBC  Media Contacts: Kathy Bevan, RBC Communications, 416-974-8820 Lena Wan, RBC  Communications, 416-955-6665  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/July2014/16/c7835.html  CO: Royal Bank of Canada ST: Ontario NI: FIN ECOSURV ECO  
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