A quarter of Canadians over 50 have $5K or less in retirement savings
Canada’s ageing population are facing challenging times with many dogged by poor finances, weak social connections, and a lack of retirement savings.
A new report from the National Institute on Ageing, in partnership with the Environics Institute for Survey Research, highlights three key areas of concern for over 50s including social well-being, financial security, and health.
The connection between finances and how older adults live their lives is clear with those facing financial struggles – along with those in poor health – among the 36% of respondents who say their social networks are weak. Just 32% of all participants reported strong social networks.
