A recent article in REALTOR EDGE quotes

"Half of  boomers 45%  still have a mortgage on their property".

and the majority 57% revealed they will have to do another finance on their home or finance to purchase.

It is interesting we all have budget sheets or at least we should. Recently looking at finances even if your home is paid off there are still significant life expenses required.

Simple fact . Living in Ontario is expensive. (  HST need I say more )

Personal finance can remain a challenge. But when downsizing a cautionary note if you are not prepared to downsize you will need significant revenues to maintain your current lifestyle. I have more and more clients that are choosing to work or at least work part time PAST THE RETIREMENT AGE. . 

Another fact is "63% people will retire mortgage free but 37% percent wont". Many boomers still have Kids ( 30 year old adults at home due to poor employment opportunites.)

I am obsessed with retirement planning recognizing at the age of 45 I have not done enough as most of my clients haven't. With the talk of deferring pensions and yes maybe one day austerity measures in Canada . We cant ignore this issue.

There are few clients I have that dont have significant debt but the odd time I have one that is mortgage free.These people are rare and show incredible discipline to earn their financial freedom.

Hoping this article prompts you not to ignore the subject of retirement planning. This is a important part of your real estate goals. There is no question Retiring baby boomers may generate significant activity in the real estate market.