Table 3 Financial security indicators of retired population age 55 and over by personal and financial characteristics

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Standard table symbols

	%	Model 1	Model 2	%	Model 1	Model 2	%	Model 1	Model 2
	Financial situation better than or as expected before retirement	Ratio of predicted probability		Retirement income is sufficient for monthly expenses	Ratio of predicted probability		Keeping up with bills and other financial committments not a problem	Ratio of predicted probability
Total	78	...	...	86	...	...	82	...	...
Age
55 to 64	76	ref.	ref.	84	ref.	ref.	77	ref.	ref.
65 to 74	75	1.03	1.04	84	1.04	1.08	80	1.07^*	1.08
75 and over	83	1.22^*	1.32^*	89	1.14^*	1.26^*	89	1.19^*	1.30^*
Men	77	0.94	0.90	86	0.98	0.96	83	1.00	1.03
Women	79	ref.	ref.	86	ref.	ref.	82	ref.	ref.
Level of education
Less than high school	74	ref.	ref.	83	ref.	ref.	80	ref.	ref.
High school or some postsecondary	79	1.06	1.06	87	1.06^*	1.10	84	1.08^*	1.12
University degree	81	1.13^*	1.11	87	1.09^*	1.12	84	1.10^*	1.11
Family status
Widowed	78	0.86^*	0.93	84	0.87^*	0.89	81	0.89^*	0.95
Divorced	65	0.71^*	0.81^*	75	0.77^*	0.80^*	70	0.76^*	0.89
Never married	77	0.92	1.00	86	0.95	1.00	85	0.98	1.09
In a couple, both retired	80	ref.	ref.	88	ref.	ref.	84	ref.	ref.
Immigrant	75	0.89^*	0.85^*	79	0.82^*	0.71^*	76	0.85^*	0.75^*
Canadian-born	79	ref.	ref.	88	ref.	ref.	84	ref.	ref.
Debt	70	...	...	79	...	...	68	...	...
Less than $5,000	69	...	0.69^*	79	...	0.79^*	67	...	0.52^*
$5,000 to $24,999	68	...	0.59^*	82	...	0.79^*	70	...	0.50^*
$25,000 to $99,999	68	...	0.57^*	82	...	0.73^*	68	...	0.41^*
$100,000 or more	73	...	0.73^*	78	...	0.71^*	67	...	0.49^*
No debt	82	...	ref.	89	...	ref.	89	...	ref.
Annual household income
Less than $25,000	65	...	ref.	75	...	ref.	68	...	ref.
$25,000 to $49,999	76	...	1.20^*	85	...	1.16^*	78	...	1.23^*
$50,000 to $74,999	90	...	1.49^*	93	...	1.33^*	91	...	1.49^*
$75,000 or more	88	...	1.41^*	93	...	1.30^*	90	...	1.50^*
Not stated	78	...	1.15^*	86	...	1.15^*	85	...	1.29^*
Net worth (assets minus debts)
Less than $75,000	63	...	ref.	72	...	ref.	65	...	ref.
$75,000 to $399,999	76	...	1.13	87	...	1.18^*	77	...	1.18^*
$400,000 or more	86	...	1.29^*	91	...	1.21^*	92	...	1.44^*
Not stated	79	...	1.10	86	...	1.13	84	...	1.21^*
* significant difference from the reference group (ref.) at the 0.05 level. The logistic regression models also controlled for financial knowledge, extra household members, home ownership and residence by Census Metropolitan Area (CMA) and region. ... not applicable. Source: Statistics Canada, Canadian Financial Capability Survey, 2009.