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2023 Survey Reveals Financial Disparities Among Canadian Families

The 2023 Survey of Financial Security, conducted by Statistics Canada, provides insights into the financial status of Canadian families. The survey highlights that families nearing retirement age (55 to 64 years) with both a principal residence and an employer-sponsored pension plan have a median net worth of approximately $1.4 million. In contrast, those without these assets have a median net worth of $11,900.