Jan 15, 2026
Canadians aged 55 and over are often framed as cautious consumers, but new research suggests they are increasingly shaping how money is spent across the economy.
A new survey from HomeEquity Bank finds older Canadians are driving key trends in technology adoption, travel spending and health and wellness — with implications that extend well beyond retirement planning.
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Canadians 55+ now make up roughly one-third of the population, and their financial behaviour is becoming a leading indicator for where consumer demand is headed next.
“We believe life after 55 is an opportunity, not a limitation,” said Yvonne Ziomecki-Fisher, Chief Customer, Brand and Advice Officer at HomeEquity Bank, in a statement. "Older Canadians are not just participating in the digital age; they're driving the change, adopting AI and using technology in ways that align with their vision for vibrant and independent living."
Older Canadians are leaning into technology — including AI
One of the more striking findings is how quickly older Canadians are embracing new technology. The survey found four in 10 Canadians aged 55+ are interested in trying AI features in the apps and tools they already use, while 35% plan to experiment with AI in 2026. Interest is even higher among those aged 55 to 64.
Rather than viewing AI through the lens of job disruption, many older Canadians are using it as a personal assistant, helping with everything from trip planning and language translation to budgeting tools, fraud detection and smart-home features that simplify daily tasks.
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Comfort with online spending continues to rise
That digital curiosity and confidence is also translating into real economic activity.
The survey found 81% of Canadians 55+ feel comfortable completing online transactions, including shopping and booking travel. Spending across categories such as travel, health and wellness, hobbies and entertainment is expected to stay the same or increase for most respondents — a contrast to broader belt-tightening narratives.
That comfort also raises the stakes around financial security. As older Canadians become more active online, they are inevitably more exposed to fraud scams, underscoring the importance of clear, secure and user-friendly digital tools.
Domestic travel remains a priority
Travel also continues to rank high on the priority list. Nearly half of older Canadians (47%) plan to travel more within Canada in 2026, and 70% expect to maintain or increase their travel budgets.
For many, travel is seen as a core lifestyle expense, rather than a discretionary luxury. Comfort, accessibility and convenience matter, suggesting demand will remain strong for travel options that reduce physical strain and simplify logistics.
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Health and wellness spending comes first
Perhaps most telling is how older Canadians are prioritizing health.
The survey found 90% plan to maintain or increase spending on health and wellness, including fitness, nutrition, and preventative care. Three-quarters say they would cut other spending before reducing health-related expenses, and 81% expect spending on hobbies and recreation to hold steady or rise.
“The fact that Canadians 55 and better would reduce spending elsewhere to preserve their health and wellness budget shows how central well-being has become,” Ziomecki-Fisher said.
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Steven Brennan is a freelance finance writer based in Vancouver, BC. He holds a BA and an MA from Maynooth University, Ireland. His work regularly appears at Canadian Mortgage Trends, Lowest Rates, Loans Canada and other Canadian and US brands, while also working as a ghostwriter for financial influencers.
