Financial Security

Vast majority are concerned about the affordability of life in Canada (89%) and the direction of the nation’s economy (86%)

Less than half (46%) of Boomers plan to use guaranteed income retirement products, while a similar proportion (43%) of Millennials are interested in finding out more about them.

Canadian Boomers are expecting to leave about $960,000 to their heirs, but Millennials are only expecting to receive around $309,000.

A third (32%) of Boomers cite healthcare costs as the cause for their cost-of-living in retirement being higher than planned.

Nearly Two Thirds of Millennials (63%) and Gen Z (63%) Say Financial Worries are Negatively Impacting Their Mental Health

Perceptions of personal debt situation drops to lowest recorded points

Less than six in ten agree that there are adequate resources in their community to help families at risk, demonstrating a gap in the aid that can be provided to families

The vast majority (94%) of Canadian business owners and aspiring entrepreneurs say being their own boss is the main incentive to run their own business, while over eight in ten (84%) young Canadians are motivated to be entrepreneurs so they can live their life the way they want.

Most of Gen Z (92%), Young Millennials (94%), and Older Millennial (91%) are interested in some kind of personal finance information.