Table 2 Assets, debts, and net worth by employment income group

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  Employed low-income Not-employed low-income Employed non-low-income
Net worth $
Median value of net worth 19,000 1,000* 257,700*
Mean value of net worth 151,000 41,700* 531,600*
  %
Net worth not stated 54 45 49
Assets $
Median value of total assets 60,000 3,000* 389,200*
Mean value of total assets 200,900 59,100* 643,600*
  %
Type of asset
Tangible assets 87 69* 97*
Home ownership
Owns home without mortgage 20 20 22*
Owns home with mortgage 38 16* 58*
Does not own home 42 64* 20*
  years
Average years of remaining mortgage 16.0 12.1* 14.2*
  %
Registered Retirement Savings Plan (RRSP) 42 22* 81*
Registered Education Savings Plan (RESP) 20 10* 29*
Other financial assets 52 37* 78*
Business assets 16 F 18*
No assets 13 36 1*
Total assets not stated 51 42 48
Debts $
Median total debt 10,000 0 50,000
Mean total debt 63,000 17,300* 113,100*
  ratio
Median debt-to-income ratio 1.00 0.64* 0.90*
Median debt-to-asset ratio 0.44 0.49* 0.27*
  %
Type of debt
Mortgage 42 16* 64*
Student loan 13 15* 14
Outstanding credit card balance 40 26* 41
Outstanding balance on line of credit 21 11* 38*
Other loans and liabilities 25 15* 30*
No debts or liabilities 31 56* 17*
Total debts not stated 20 17 18
* significant difference from the employed low-income (reference group) at the 5% level
F too unreliable to be published
Note: Median values are bootstrap-weighted but not age-standardized. Age-standardized medians are estimated but not reported in the table as they cannot be bootstrap-weighted and tested for significance. Individuals in employed low-income families are used as the base profile so medians do not change for this group. The age-standardized median net worth value is $250 for not-employed low-income families, and $247,000 for employed non-low-income families. The age-standardized median total assets are $2,000 for not-employed low-income families, and $382,300 for employed non-low-income families. The age-standardized median total debt is $0 for not-employed low-income families, and $55,000 for employed non-low-income families.
Source: Statistics Canada, Canadian Financial Capability Survey, 2009.