BY David Wm. Brown and Sarah Brown
Starting a conversation about someone’s age is a sure way to be the least popular person in the room. But while this is a no-go territory for cocktail party chatter, it’s a conversation you need to have with your parents.
Statistics Canada tells us that in 2007, people aged 45 to 64 paid for 75% of elder care. And now, a new generation is realizing that when their parents need long-term care, they’ll be called upon to fund it.
A national study of Canadians with more than $100,000 in investable assets shows that worry over healthcare needs has emerged as the second most important driver, behind retirement itself.
Among investors under 50, 34% identify healthcare as a priority compared with the average of 46% of all respondents, but even among this younger group, healthcare needs emerge as a significant rationale for investments. Read more