Overview of the Dimensions of Preparedness for Retirement
This chapter presents a review of basic concepts pertaining to an assessment of preparedness to meet retirement’s challenges. The review forms part of the conceptual foundation for the design of two composite indicators used in the book’s core chapters. It focuses on the idea that a person should plan retirement as a transition between two sets of activity that keep her embedded in supportive social relationships. Adopting a broad view of retirement that involves gradual disengagement from a lifetime of active production of paid and unpaid work outputs, this chapter endorses the rule that persons should plan to retire to something, not from something. It emphasizes the importance of recognizing distinct waves of retirement within ageing cohorts, showing the estimated wave patterns in Canada and the USA. Regarding financial preparedness, the text stresses the importance of taking small preparatory steps over a long period of time. People should start early, where feasible, under the rule that in financial preparations time is your friend.
KeywordsLabour Market Civic Engagement Financial Literacy Composite Indicator General Social Survey
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