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Amid the economic impacts of COVID-19 Canadians between 55 and 75 are taking the time to adjust how they spend, save and invest. The study of over 1000 people found that 69% have not been significantly impacted by the pandemic and just over 20% have been pushed to reach into their savings. “We wanted to further explore how financial fluctuations may have affected those who are nearing retirement or have recently retired,” said Selene Soo, Director, Wealth Insurance, RBC Insurance. As a result, they have opted for a more open-handed lifestyle by helping family/friends in need, increasing commitments to a family legacy and charitable giving.

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