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Delaying retirement can provide a double
The longer you keep working, the better off you are financially. Employer-sponsored defined benefit pensions pay out more the longer you stay. Canada Pension Plan pays more if you take CPP at the latest possible age of 70, rather than the earliest possible 60. Same for delaying the start of Old Age Security past the earliest possible age of 65 or 67. If you’re counting on your investment portfolio , the longer you work, the more a portfolio has time to grow—and every extra year worked means one year less the portfolio has to last. If you enjoy work, think twice about early retirement. If not, you may need a career change instead.