Nov 7, 2025
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A growing number of younger Canadians are shaking off traditional money advice that once guided earlier generations, according to a new survey by Simplii Financial.
The poll found that one in four Canadians (25%) believe advice from older generations “no longer feels relevant”— a figure that jumps to 34% among Gen Z respondents in particular. Among those aged 18 to 34, nearly half say that conventional counsel about home-buying doesn’t apply to them, and more than a third question age-old perspectives on employment and income.
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“For a lot of young Canadians, financial advice from parents only resonates if it reflects their day-to-day reality,” said Atanaska Novakova, EVP and head at Simplii Financial, in a statement.
Generational gap in financial guidance
While many Canadians still value the wisdom passed down by older relatives, the survey highlights a significant divide: 39% of all respondents feel that older generations may not fully grasp today’s financial realities. The gap is especially stark among younger adults, with 90% of 18 to 34 year-olds believing that building wealth is harder now than it was for their parents.
Money expert and author Jessica Moorhouse echoes this shift: “It’s not that younger Canadians don’t want advice; they want advice that fits,” she said in the release. “Today’s young adults are navigating entirely different financial pressures than their parents did, from cost-of-living challenges to digital side hustles.”
The survey also found that 91% of Canadians believe financial advice should be tailored by generation and life stage. When it comes to investing, 49% said they wish they’d learned more about it earlier. Meanwhile, 25% of Canadians under 35 describe their own financial literacy as low.
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Confidence, tools and changing habits
The data from Simplii paints a nuanced picture: younger Canadians are open to change, yet many still feel uncertain about the financial world. While 25% of 18 to 34 year-olds say they feel empowered by the variety of financial tools currently offered, 40% of women and 35 to 54 year-olds say they feel overwhelmed by the sheer number of options.
Experts say bridging those gaps starts with more meaningful financial conversations at home. Simplii’s report encourages families to talk early and often, normalize open discussions about saving or debt, and lead with listening — asking younger relatives what tools they already use to manage money.
It also suggests challenging assumptions about “traditional” goals like homeownership and retirement age, and approaching money advice with curiosity, rather than judgment.
“Canada’s younger generations are starting to define financial priorities and success on their own terms,” Novakova added. “Many are reassessing what’s realistic in today’s economy.”
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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.
