The lack of security for their long-term financial security is highlighted by the revelation that only 43% of respondents believe they are saving enough for retirement.
women at risk
Women (38% versus 29%) are more likely than men to say they don’t have an investment portfolio, more likely to be unsure about how much they’ll need to save for retirement (35 % vs. 21%), and are much more likely to say that they do not know at what age they will retire (32% vs. 22%).
Carissa Lucreziano, Vice President, CIBC Financial and Investment Advice, said, “No one wants to be a financial burden to their loved ones in their retirement years, yet many people don’t believe how and when they want to retire. Saving enough.” “This tells us that many Canadians, especially women, can benefit from a conversation with a financial advisor.”
change in portfolio
The survey also showed that the pandemic has had little impact on the investment outlook of 79%, adding that their strategy has remained the same since the start of the pandemic.
However, among the 18-34 age group, behavior changes are more common, with 30% indicating that their investment approach has changed. 14% of older peers.
