{"id":6791,"date":"2018-09-10T21:03:10","date_gmt":"2018-09-11T01:03:10","guid":{"rendered":"http:\/\/www.irasmithinc.com\/blog\/?p=6791"},"modified":"2020-12-28T20:39:02","modified_gmt":"2020-12-29T01:39:02","slug":"average-canadian-net-worth-2018","status":"publish","type":"post","link":"https:\/\/irasmithinc.com\/blog\/average-canadian-net-worth-2018\/","title":{"rendered":"AVERAGE CANADIAN NET WORTH 2018: MIDLIFE WEALTH SHOCK MAY LEAD TO DEATH"},"content":{"rendered":"<figure id=\"attachment_6793\" aria-describedby=\"caption-attachment-6793\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.google.com\/maps\/dir\/43.8083153,-79.5469669\/Ira+Smith+Trustee+%26+Receiver+Inc.,+167+Applewood+Crescent+%236,+Concord,+ON+L4K+4K7\/@43.808962,-79.5494842,15z\/data=!3m1!4b1!4m8!4m7!1m0!1m5!1m1!1s0x882b2f0ae005a70f:0x7fde3a2e744a0e1c!2m2!1d-79.534505!2d43.808316\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-6793 size-full\" title=\"average canadian net worth 2018\" src=\"http:\/\/www.irasmithinc.com\/blog\/wp-content\/uploads\/2018\/09\/average-canadian-net-worth-2018-wealth-shock.png\" alt=\"average canadian net worth 2018\" width=\"1280\" height=\"941\" srcset=\"https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2018\/09\/average-canadian-net-worth-2018-wealth-shock.png 1280w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2018\/09\/average-canadian-net-worth-2018-wealth-shock-300x221.png 300w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2018\/09\/average-canadian-net-worth-2018-wealth-shock-768x565.png 768w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2018\/09\/average-canadian-net-worth-2018-wealth-shock-1024x753.png 1024w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2018\/09\/average-canadian-net-worth-2018-wealth-shock-408x300.png 408w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2018\/09\/average-canadian-net-worth-2018-wealth-shock-1200x882.png 1200w\" sizes=\"auto, (max-width: 1280px) 100vw, 1280px\" \/><\/a><figcaption id=\"caption-attachment-6793\" class=\"wp-caption-text\">average canadian net worth 2018<\/figcaption><\/figure>\n<h2 id='if-you-would-prefer-to-listen-to-the-audio-version-of-this-average-canadian-net-worth-2018-blog-please-scroll-down-to-the-bottom-and-click-on-the-podcast'  id=\"boomdevs_1\">If you would prefer to listen to the audio version of this <em><strong>average Canadian net worth 2018<\/strong><\/em> blog, please scroll down to the bottom and click on the podcast.<\/h2>\n<h2 id='average-canadian-net-worth-2018-introduction'  id=\"boomdevs_2\"><span style=\"color: #00ccff;\"><strong><em>Average Canadian net worth 2018<\/em>: \u00a0Introduction<\/strong><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">According to the most recent Statistics Canada report published in 2017. <\/span><a href=\"https:\/\/www.statcan.gc.ca\/eng\/survey\/household\/2620\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">The Survey of Financial Security<\/span><\/a><span style=\"font-weight: 400;\">, the median net worth of Canadian families was $295,100. \u00a0That is the latest federal government official statistic we have in determining the <\/span><em><b>average Canadian net worth 2018<\/b><\/em><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">There\u2019s always been talk about how a <\/span><a href=\"http:\/\/www.irasmithinc.com\/blog\/financial-crisis-in-canada-can-real-estate-prices-trigger-one\/\"><span style=\"font-weight: 400;\">financial crisis<\/span><\/a><span style=\"font-weight: 400;\"> can adversely affect your health but now a new study published in the Journal of the American Medical Association suggests that <\/span><a href=\"http:\/\/www.irasmithinc.com\/blog\/i-need-financial-help-right-now\/\"><span style=\"font-weight: 400;\">wealth shock<\/span><\/a><span style=\"font-weight: 400;\"> may actually shorten your life. <\/span><\/p>\n<h2 id='average-canadian-net-worth-2018-what-is-wealth-shock'  id=\"boomdevs_3\"><strong><span style=\"color: #00ccff;\"><em>Average Canadian net worth 2018<\/em>: \u00a0What is wealth shock?<\/span><\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Researchers defined wealth shock as a loss of 75% or more in financial value over two years. The average loss was about $100,000. This catastrophic financial crisis could include a drop in the value of investments or realized losses like <\/span><a href=\"http:\/\/www.irasmithinc.com\/blog\/canadian-reverse-mortgage-information-easy-to-lose-the-house-if-you-dont-understand-the-terms\/\"><span style=\"font-weight: 400;\">home foreclosure<\/span><\/a><span style=\"font-weight: 400;\">. The effect was more marked if the person lost a home as part of the wealth shock, and it was more pronounced for people with fewer assets.<\/span><\/p>\n<h2 id='average-canadian-net-worth-2018-how-does-wealth-shock-affect-your-life-expectancy'  id=\"boomdevs_4\"><strong><span style=\"color: #00ccff;\"><em>Average Canadian net worth 2018<\/em>: \u00a0How does wealth shock affect your life expectancy?<\/span><\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Researchers analyzed 20 years of data from the Health and Retirement Study, which checks in every other year with a group of people in their 50s and 60s and keeps track of who dies.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Wealth shock was tied to a 50% greater risk of dying<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Middle-aged Americans who experienced a sudden, large economic blow were more likely to die during the following years than those who didn&#8217;t<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Women were more likely than men to have a wealth shock<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Wealth shock crossed socio-economic lines, affecting people no matter how much money they had to start<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-6809\" title=\"ira-smith-bankruptcy-trustee-vaughan\" src=\"http:\/\/www.irasmithinc.com\/blog\/wp-content\/uploads\/2018\/09\/threebestrated-1024x858.png\" alt=\"ira smith bankruptcy trustee vaughan\" width=\"584\" height=\"489\" \/><\/span><\/li>\n<\/ul>\n<h2 id='average-canadian-net-worth-2018-this-is-really-a-story-about-everybody'  id=\"boomdevs_5\"><strong><span style=\"color: #00ccff;\"><em>Average Canadian net worth 2018<\/em>: \u00a0This is really a story about everybody<\/span><\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Although this study was conducted in the U.S., &#8220;This is really a story about everybody,&#8221; said lead researcher Lindsay Pool of Northwestern University&#8217;s medical school. \u201cStress, delays in health care, substance abuse and suicides may contribute\u201d, she said. North or south of the border, we\u2019re all in equal danger. According to Dr. Alan Garber of Harvard University in an accompanying editorial, the findings suggest a wealth shock is as dangerous as a new diagnosis of heart disease. He also noted that doctors need to recognize how money hardships may affect their patients.<\/span><\/p>\n<h2 id='average-canadian-net-worth-2018-don-t-wait-until-you-re-a-wealth-shock-statistic'  id=\"boomdevs_6\"><strong><span style=\"color: #00ccff;\"><em>Average Canadian net worth 2018<\/em>: Don\u2019t wait until you\u2019re a wealth shock statistic<\/span><\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Please don\u2019t wait until you\u2019re a <\/span><a href=\"https:\/\/www.usatoday.com\/story\/money\/personalfinance\/budget-and-spending\/2018\/04\/03\/midlife-wealth-shock-may-lead-death-ama-study\/483228002\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">wealth shock<\/span><\/a><span style=\"font-weight: 400;\"> statistic. If you\u2019ve experienced wealth shock or are experiencing financial hardship, don\u2019t jeopardize your health. Contact a <\/span><a href=\"http:\/\/irasmithinc.com\/bankruptcy_services-personal_why-use-a-trustee.html\"><span style=\"font-weight: 400;\">professional today<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p><a href=\"http:\/\/irasmithinc.com\/index.html\"><span style=\"font-weight: 400;\">Ira Smith Trustee &amp; Receiver Inc.<\/span><\/a><span style=\"font-weight: 400;\"> is full-service insolvency and financial restructuring practise serving companies and individuals throughout the Greater Toronto Area (GTA) facing financial crisis or <\/span><a href=\"http:\/\/irasmithinc.com\/bankruptcy_services.html\"><span style=\"font-weight: 400;\">bankruptcy<\/span><\/a><span style=\"font-weight: 400;\"> that need a plan for <\/span><a href=\"http:\/\/www.irasmithinc.com\/index.html\"><span style=\"font-weight: 400;\">Starting Over, Starting Now<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">We approach every file with the attitude that corporate or personal financial problems can be solved.\u00a0 That is as long as you take immediate action with the right plan. We\u2019re just a <\/span><a href=\"http:\/\/irasmithinc.com\/contact_us.html\"><span style=\"font-weight: 400;\">phone call<\/span><\/a><span style=\"font-weight: 400;\"> away and we can set you back on a path to financial health.<\/span><\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/UPtr2QghnlA\" width=\"789\" height=\"444\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<figure id=\"attachment_7050\" aria-describedby=\"caption-attachment-7050\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-7050 size-large\" title=\"AVERAGE CANADIAN NET WORTH 2018\" src=\"http:\/\/www.irasmithinc.com\/blog\/wp-content\/uploads\/2018\/10\/ira-smith-trustee-1024x858.png\" alt=\"AVERAGE CANADIAN NET WORTH 2018\" width=\"1024\" height=\"858\" srcset=\"https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2018\/10\/ira-smith-trustee-1024x858.png 1024w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2018\/10\/ira-smith-trustee-300x251.png 300w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2018\/10\/ira-smith-trustee-768x644.png 768w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2018\/10\/ira-smith-trustee-358x300.png 358w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2018\/10\/ira-smith-trustee-1200x1006.png 1200w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2018\/10\/ira-smith-trustee.png 1222w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption id=\"caption-attachment-7050\" class=\"wp-caption-text\">AVERAGE CANADIAN NET WORTH 2018<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>If you would prefer to listen to the audio version of this average Canadian net worth 2018 blog, please scroll down to the bottom and click on the podcast. Average Canadian net worth 2018: \u00a0Introduction According to the most recent Statistics Canada report published in 2017. The Survey of Financial Security, the median net worth [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[2955,2965,5,236,582,172,2958,863,588,2952,2967,2957,2956,11,2966],"class_list":["post-6791","post","type-post","status-publish","format-standard","hentry","category-brandon-blog-post","tag-alan-garber","tag-average-canadian-net-worth-2018","tag-bankruptcy","tag-financial-crisis","tag-financial-hardship","tag-financial-health","tag-harvard-university","tag-ira-smith-trustee","tag-ira-smith-trustee-receiver-inc","tag-lindsay-pool","tag-money-hardships","tag-northwestern-university","tag-the-journal-of-the-american-medical-association","tag-trustee","tag-wealth-shock"],"_links":{"self":[{"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/posts\/6791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/comments?post=6791"}],"version-history":[{"count":6,"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/posts\/6791\/revisions"}],"predecessor-version":[{"id":10134,"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/posts\/6791\/revisions\/10134"}],"wp:attachment":[{"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/media?parent=6791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/categories?post=6791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/tags?post=6791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}