Description: Housing prices in places like Vancouver and Toronto are causing Globe and Mail arts columnist Marsha Lederman to wonder what retirement might be like for Gen-Xers, like her, or the Millennials who are following. She remembers the big day when her  mother celebrated receiving a notice from the bank saying the home mortgage had been paid off, but she wonders if her own mortgage will be paid by retirement time. No one seems to be talking of freedom 55 anymore. And 34 percent of Canadians are apparently hoping for a lottery win to solve their retirement funding crisis. Lederman’s advice – “think hard about the choices you make.”

Source: Globeandmail.com

Date: November 13, 2015

Link: http://www.theglobeandmail.com/globe-debate/a-cautionary-tale-learn-from-those-smart-stingy-boomers-and-think-before-you-spend/article27255113/

Discussion Points:

1) As a student, are you thinking ahead to your post-university life and the financial choices that lie ahead?

2) What opportunities does this personal finance situation offer for accountants?

3) What are the odds of winning the lottery? Does it surprise you that 34 percent of Canadians seem to be considering it as a solution?