Scotia Wealth Management teams up with Gordie Howe CARES to support Canadian caregivers and their families
New sponsorship aims to broaden awareness of national caregiving needs in the face of longevity
With innovations in health and wellbeing, the Canadian population continues to live longer. But, as the population ages, many are not living in good health. In
Scotia Wealth Management's sponsorship of Gordie Howe CARES will enable further research, education and support to caregivers who are dedicating their time caring for loved ones. Scotia Wealth Management clients will have access to caregiving resources, education, and a community to help empower themselves and those around them.
"Many Canadians have not considered the financial impact of living longer, including aging in place, long-term care costs and caregiving needs," said
It is estimated that 650,000 caregivers will be called on to support Canadians living with dementia by 2050. Gordie Howe CARES provides caregivers of people living with Alzheimer's and dementia-related diseases with support and education.
The impact of caregiving on time and cost is substantial.
- According to Gordie Howe CARES, one in five Canadians have experience caring for someone living with dementia.
- Gordie Howe CARES suggests that 10 to 12 is the average number of individuals who are directly impacted for each person diagnosed with dementia.
- According to the
Canadian Institute of Actuaries (CIA), less than one-in-three Canadians consider long-term care needs, though only one-in-ten have set aside funds to pay for it. -
The National Institute on Aging (NIA) finds that half of Canadians believe in-home care costs to be$1,100 per month but necessary care could more likely cost$3,500 per month.
Scotia Wealth Management is supporting clients on their caregiving journey.
With a unique team-based approach grounded in research, Scotia Wealth Management delivers a Total Wealth plan for clients — an approach that is evolving to reflect longevity, health and wellbeing considerations.
"The journey of caregiving doesn't just affect an individual — it has family, community, and economic impacts," said Dr. Zahinoor Ismail, Chair of the
Where to start
Learn more about Scotia Wealth Management and our Total Wealth approach to help build a plan tailored for you, your family and your future.
Learn more about Gordie Howe CARES and their mission to support and understand the challenges faced by caregivers, health care professionals and family and friends.
About Scotiabank
Scotiabank's vision is to be our clients' most trusted financial partner, to deliver sustainable, profitable growth and maximize total shareholder return. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately
SOURCE Scotiabank