Key facts
- 69% of homeowners aged 45+ have reduced spending due to financial concerns.
- 56% of respondents feel their wealth is tied up in their homes.
- The survey was released by EQ Bank during Seniors Month.
A new survey released by EQ Bank during Seniors Month indicates that economic uncertainty is significantly impacting the retirement savings of older Canadian homeowners. The survey found that over two-thirds (69%) of respondents aged 45 and older have reduced their spending due to concerns about their financial situation in retirement. Furthermore, more than half (56%) of those surveyed feel that a substantial portion of their wealth is tied up in their homes rather than in more liquid retirement savings.