In its Survey of Financial Security, Statistics Canada found that the median family unit had $229,900 in assets, which were divided into four categories: pension assets (the value of private pension plans excluding OAS/GIS or CPP/QPP), financial assets (stocks, bonds, GICs, mutual funds, savings accounts etc.), non-financial assets (real estate, vehicles, antiques, furniture etc.) and equity in business. The overall allocation of total assets of Canadians is as follows: Pension Assets (29%), Financial Assets (10.4%), Non-Financial Assets (50.1%) and Equity in Business (10.5%). As you might expect, the single biggest asset for Canadians is their personal residence valued at one-third of total assets.
The survey found that 58% of all family units had an RRSP with a median value of $30,000 (the average was $76,600). Interestingly, a mere 10.3% of registered assets are invested directly in equities with about half invested in mutual funds and income trusts.
61.9% of family units owned their home, 16.1% held other real estate like vacation homes, cottages or rental units and 75% owned at least one vehicle.
RRSP and Home Ownership by Age
|Age||RRSP Ownership||RRSP Median Value||Home Ownership||Owners with Mortgage|
|35 to 44||63.3%||$22,500||68.5%||81.2%|
|45 to 54||68.1%||$40,000||74.5%||59.6%|
|55 to 64||69.4%||$60,000||76.7%||38.5%|
|64 and older||51.2%||$50,000||69.2%||12.0%|
Tomorrow, we will look at the debt picture of Canadians.