The survey from Scotiabank, released on Thursday, found 55 per cent of respondents said their retirement plans were “impacted by current economic conditions.”
“These results indicate that investors have current concerns about meeting their retirement goals; however, regular meetings with financial advisors and having a written financial plan diminish those concerns,” Neal Kerr, the head of Scotia Global Asset Management, said in a press release.
The survey also said 59 per cent of respondents had negative feelings regarding their investments, which marked a 33 per cent increase from a previous survey conducted in the fall of 2021.
The findings aligned with a recent Scotiabank poll, which found that Canadians are worrying more about their personal finances when compared to the previous year.
The Investor Sentiment survey also found that 86 per cent of respondents who met with a financial adviser in the past six months had higher levels of confidence in funding their retirement.
Indications of confidence increased to 95 per cent among respondents who combined meeting a financial advisor with having a financial plan.
But, only 26 per cent of Canadians who responded to the survey said they had a written plan.
METHODOLOGY:
The Scotia Global Asset Management Investor Sentiment survey was conducted by Environics Research from January 4-10, 2023. The online survey included 1,022 Canadians, 25 years of age or older with household investable assets of $25,000 or more and who participate in investments decisions for their household. The data was weighted by age, gender and region and household investable assets to reflect the population.
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