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Thursday, March 15, 2001 Survey of Financial Security, 1999 The asset and debt position of family units varied widely in 1999. Overall, Canadians had about $16 in debts for every $100 in assets. Lone-parent families, most of which are headed by women, had a debt burden almost twice the national average. Families headed by a senior aged 65 or over had the smallest debt burden. The single most important non-financial asset for Canadians in 1999 was their principal residence, which accounted for 38% of total assets. The most important financial asset was their Registered Retirement Savings Plans, accounting for 12% of total assets. Mortgages accounted for more than three-quarters of total debts. In 1999, the estimated median net worth of all family units - that is, both unattached individuals and families of more than two people - was $81,000. The 10% of family units with the highest net worth held 53% of all personal wealth in the country in 1999. After making the data comparable, median net worth for all family units increased about 11% between 1984 and 1999, in constant 1999 dollars. Net worth increased considerably for family units headed by a senior aged 65 and over during this period, but remained virtually unchanged for young couples with children. The number of family units with student loan debt increased almost three-fold between 1984 and 1999, to 1.4 million. Student loans comprised a significant debt load for younger families. NEW PRODUCTS |