Average savings per household in Canada 2000-2021, by age group

Households where the major income earner was from 35 to 44 years old were the only ones that increased their net savings in 2021, reaching over 27,500 Canadian dollars. These was the segment that saved more money that year. Households of individuals older than 64 had negative net savings amounting to 13,603 Canadian dollars, which means that their expenses were higher than their revenue. The amount of savings reached unprecedented highs during 2020 due to the COVID-19 pandemic and the consequent measures introduced by governments to tackle the outbreak.