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Résumé (français)

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Résumé (anglais)

Thriving in retirement means that an individual’s physical, mental, and social health and well-being needs have been met. This includes living in stable, safe housing, eating healthy foods and staying physically active, connecting with family and friends, continuing to learn new skills, contributing to one’s community, and managing emerging health care needs throughout the aging process. Staying healthy in retirement comes at a cost. Wellesley Institute’s previous study estimated that the financial resources needed to have a healthy, thriving life in retirement is at least $33,000 for single older adults and $48,000 for older couples in the Greater Toronto Area (GTA). Through the lens of thriving income, this report explores income disparities among single older adults living alone in the City of Toronto and Mississauga – two largest cities in the GTA. The study aims to understand who is not making thriving income and which socio-demographic factors contribute to an older adult’s probability of making or not making thriving income.