The current state of the economy is putting more and more strain on investors in Canada, meanwhile having a financial plan and expert assistance can significantly increase confidence.

Scotia Global Asset Management Investor Sentiment poll results

Nearly six out of ten (58%) investors feel concerned, worried, or apprehensive about their investments.

While 60% of respondents polled respond with the present economic climate has influenced their retirement planning.

This is according to Scotiabank’s sixth annual Worry Poll, which explores Canadians’ overall sentiment towards their finances.

Less Canadians worried about their finances, but those that did spent extra time on average and felt most anxious about covering day-to-day costs.

What can investors in Canada do?

Moreover, according to the survey, 80% of the respondents who have met with their adviser in the last six months are secure in their financial position, compared to 61% who have not met with their adviser in that time frame.

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Those having a financial plan are 52% more inclined to think the current investment climate is an advantageous moment to invest, compared to 25% of those without one.

Neal Kerr, head, Scotia Global Asset Management stated: “It is very understandable to be concerned about daily expenses, particularly as we have experienced higher inflation. Trying to find a balance is key – managing short-term needs while at the same time not sacrificing the growth potential needed to meet long-term goals like retirement. The good news is that regular meetings with financial advisers and having a written financial plan can help restore that balance and alleviate concerns.”

“Our commitment – to enrich our clients’ financial futures with outstanding investment solutions delivered in partnership with comprehensive wealth advice – remains critically important, as the survey results attest again this year.”