WEALTH

Affordability:

Wealth or Net Worth determines care affordability.

Definition:

Economic discussions about pension adequacy for elderly Canadians has produced a new metric to determine wealth.

This new metric is called "potential" income and refers to the sum of realized income plus income realized from owned assets.

This equation is summarized in the following chart.

Results:

Using the above criteria, the Net Worth (Wealth) of Canadian families by age and gender and also by age of family head was determined by Statistics Canada and are shown in the following Tables. This study determined that households headed by seniors (aged 65 and older) had a potential income per adult-equivalent that exceeded the income of households headed by younger adults.

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