Nearly a third of Canadians return to work after retiring, survey finds

(Fotolia)

(Fotolia)

QMI Agency

, Last Updated: 11:51 AM ET

Leaving the working world behind may have sounded like a good idea, but a new survey has found 30% of Canadians who retired have gone back to work.

Nearly half of those (48%) did so for financial reasons, the ING Direct survey found.

If they could go back in time to when they were 20 or 30, 29% of respondents said they would have found a way to save more for retirement, 24% would have started saving earlier and 11% said they would not have spent money mindlessly.

The results could be a word of warning to the younger generation. In a separate survey, 64% of Millennials (those between the ages of 18 and 34) are contributing regularly to their retirement savings, but 69% are not maxing out their annual contribution. The survey found 61% admit they have no idea how much they will need to save for retirement.


Videos

Photos