Sask. and Manitoba residents contributed the least to investments in 2022: Survey
A survey from TD Bank reveals Saskatchewan and Manitoba have the highest number of people in the country who didn’t contribute to their investments last year.
That number is 62 per cent for 2022. More than half of the participants felt the market is too risky for any investments last year, the survey found.
“It comes down to confidence. I think half of Canadians in Saskatchewan and Manitoba through the survey told us they aren’t confident in their understanding of mutual funds and GICs,” said Pat Giles, vice president of Savings & Investing Journey at TD Bank.
With inflation in mind, 52 per cent of residents in Saskatchewan and Manitoba said they’re worried about getting through the next year financially.
“There is no question that for most Canadians, their cash flow has changed considerably in the last year. And of course, many Canadians’ goals have changed,” Giles told CTV News.
For people cutting back on expenses, it can also affect how some people look at retirement. A survey from BMO revealed Canadians now believe they need $1.7 million dollars in order to retire, a 20 per cent increase from 2020.
LINK: https://www.ctvnews.ca/business/canadians-now-expect-to-need-1-7m-in-order-to-retire-bmo-survey-1.6262927
The Saskatchewan Retiree Association (SRA) says with the pandemic, some in the province are looking to retire later.
“They’re no longer sure whether or not that’s (savings) going to take them as far as they thought. And with the market bouncing around, they just are uncertain. And so they’ve intended to just stay in the workplace,” said SRA president Randy Dove.
Dove says they’ve seen a growth rate of retirees in the province of about 10 to 12 per cent in the last five years. But in 2022, it slowed down to 8 per cent.
Giles says whether you’re saving for retirement or a rainy day, no one size fits all when it comes to saving and investing, making it even more important to speak with an expert.
CTVNews.ca Top Stories
Canada's orphan oil and gas well problem runs a billion dollars deep
Canadian companies are spending public funding to clean up their oil and gas wells at a time when the industry is raking in historic profits, yet many wells remain abandoned or unplugged. As the number of these wells rises, so do the environmental costs and the likelihood that taxpayers will be on the hook for them.
Femicides on the rise as report indicates a women or girl is killed every 48 hours in Canada
Femicides in Canada are on a concerning rise according to a new report that says a woman or girl is killed every 48 hours in the country and this number is likely to increase.
Police identify two of eight migrants pulled from water near Akwesasne, Que.
The Akwesasne Mohawk Police identified two of the eight migrants whose bodies were pulled from the St. Lawrence River earlier this week, but said Saturday they're still searching for a local resident whose boat was found near the victims.
Guilbeault defends carbon price, admits 'average household will pay more,' even after rebates
Canada's environment and climate change minister acknowledged that the average household may eventually pay more for the carbon price than it gets back in rebate payments, but says the Liberal government has other programs to help Canadians lower their energy costs overall.
Hungry iguana bites and infects toddler with rare bacterial infection before snatching her cake
A rare infection with tuberculosis-like symptoms was reported in a toddler after an iguana bit her before snatching away a slice of cake on a trip to Costa Rica.
April storms bring May norms: Weather Network’s seasonal forecast
The latest seasonal outlook from The Weather Network shows early April will continue to be chilly with flip-flopping temperatures bringing above and below the usual levels of precipitation seen around this time.
At least 26 dead after tornadoes rake U.S. Midwest, South
Storms that dropped possibly dozens of tornadoes killed at least 26 people in small towns and big cities across the South and Midwest, tearing a path through the Arkansas capital, collapsing the roof of a packed concert venue in Illinois, and stunning people throughout the region Saturday with the damage's scope.
Ukrainian official offers plan for a Crimea without Russia
A top Ukrainian official on Sunday outlined a series of steps the government in Kyiv would take after the country reclaims control of Crimea, including dismantling the strategic bridge that links the seized Black Sea peninsula to Russia.
Migrant bodies in St. Lawrence 'heartbreaking' but 'predictable,' advocate says
After the bodies of several people were discovered in the St. Lawrence River, who authorities say were likely trying to cross illegally into the U.S., a migrant advocate is questioning why people are fleeing Canada.
Regina
-
'A one of a kind place': Health centre 'The Nest' opens first phase in downtown Regina
The newly opened health and wellness centre in downtown Regina, The Nest, is providing residents of the Queen City with resources to live healthier lives.
-
Police operation underway in north central Regina
The Regina Police Service is warning the public to stay away from a section of the North Central neighbourhood due to an ongoing operation.
-
Federal minimum wage, taxes on alcohol: Here's what's changing in Canada April 1
The federal minimum wage is increasing from $15.55 per hour to $16.65, and taxes are going up on gas and alcohol nationwide starting April 1.
Winnipeg
-
'It seemed like a nightmare': Survivor of crash that killed 4 teens recovering in Winnipeg hospital
The mother of a 15-year-old girl recovering in hospital after a major car crash is thanking the first responders who pulled her from the wreckage.
-
Two people found dead in Dauphin: RCMP
RCMP in Dauphin are investigating the deaths of two people Saturday morning.
-
'A tremendous feeling': Brandon's Royal Winter Fair wraps up week-long celebration
A long-running, beloved Brandon event is celebrating a successful return to fully in-person festivities this spring break.
Calgary
-
'Like a coup': Albertans say they're worried about Take Back Alberta's growing influence
Some have speculated it's already "the power behind the throne" of the UCP, but a controversial right wing group appears to be grabbing even more influence ahead of Alberta's May election.
-
Calgarians collect clothing and donations for victims of Marlborough house explosion
Community members gathered Saturday to donate gently used clothing, gift cards and cash, along with messages of support for the victims of a devastating northeast Calgary house explosion.
-
Alberta's provincial court receives new name that communicates purpose 'more clearly'
The Provincial Court of Alberta will now be known as the Alberta Court of Justice.
Edmonton
-
Vehicle from drive-by shooting that sent 'stray rounds' into northside businesses sought
Charges have been laid in connection to a northwest Edmonton drive-by shooting that spanned up to 12 blocks Friday, with police searching for another vehicle of interest.
-
'They are very, very powerful': Edmonton rally against RBC part of nationwide climate action plea
A handful of Edmontonians participated in a nationwide demonstration against Canada's biggest bank's continued support of fossil fuel projects.
-
Alberta's provincial court receives new name that communicates purpose 'more clearly'
The Provincial Court of Alberta will now be known as the Alberta Court of Justice.
Toronto
-
This part of the proposed Ontario Place design 'overwhelms' public space: report
Toronto city planners have found some issues with the proposed redevelopment of Ontario Place and say one part of the design is so big it 'overwhelms the public realm.'
-
Brampton, Ont. man charged with sexually assaulting, harassing female paramedics in Peel Region
A Brampton, Ont. man is under arrest after what is being described as a “troubling series of events” that saw female paramedics in Peel Region allegedly sexually assaulted and harassed.
-
Boy critically injured in stabbing in Toronto's east end
A boy is in hospital in serious condition after being stabbed in Toronto's east end.
Ottawa
-
NEW THIS MORNING
NEW THIS MORNING | 'It's about community and it's about winning': Neko Sparks and his bid for the Ottawa Senators
Los Angeles-based film producer and entrepreneur Neko Sparks says he's assembled a team that he believes can bring just as much to the Senators and to Ottawa as the Ryan Reynolds partnership.
-
World Men's Curling Championships underway in Ottawa
The world's best men's curling teams have taken to the pebbled ice in Ottawa, vying for the championship cup.
-
Excavator hits power line at LRT construction site causing dramatic sparks
A fire at a Stage 2 LRT construction site in the west end caused some power to flicker Saturday morning.
Vancouver
-
Red Robinson, Rock 'n' Roll Hall of Famer and legendary Vancouver DJ, has died
Legendary Vancouver disc jockey Red Robinson has died, his family announced Saturday.
-
'Some kids are going hungry': Once homeless, owner of Chilliwack meat shop aims to help others
A Chilliwack meat shop has taken it upon itself to combat rising food costs.
-
Access to free birth control begins in British Columbia
Health-care providers are calling Saturday a "historic step for health care" in British Columbia, as the province begins offering free access to birth control.
Montreal
-
Police identify two of eight migrants pulled from water near Akwesasne, Que.
The Akwesasne Mohawk Police identified two of the eight migrants whose bodies were pulled from the St. Lawrence River earlier this week, but said Saturday they're still searching for a local resident whose boat was found near the victims.
-
Two horses flee enclosure, fall into icy backyard pool as Quebec town rallies in rescue attempt
Two runaway horses were discovered in a backyard swimming pool Friday in Hemmingford, Que., about an hour south of Montreal. The horses had already been on the run for hours, locals say, escaping from a nearby enclosure.
-
Man, 33, stabbed and injured in Plateau-Mont-Royal
A 33-year-old man was stabbed and injured in Montreal's Plateau-Mont-Royal borough Saturday night. Police were called to the scene on Saint-Laurent Boulevard, near Rachel Street, shortly before 11 p.m.
Vancouver Island
-
Source of spill that turned Sidney creek white identified
The Town of Sidney says it has identified the source of a troubling spill that turned Mermaid Creek milky white on Wednesday.
-
Training flight turns into rescue mission after boaters capsize off B.C. island
A pair of boaters and their dog were fortunate to survive after capsizing off Texada Island and spending 45 minutes in the water Thursday afternoon.
-
BC Ferry commissioner proposes up to 9.2 per cent fare hike, final number on Sept. 30
The British Columbia Ferry Commission has announced its preliminary decision on ferry fare increases that if finalized would be up to a maximum of 9.2 per cent for each of the next four years.
Atlantic
-
W5 investigates
W5 investigates | Priest, neighbours issue plea for help for struggling international students in Cape Breton
Cape Breton University has more than doubled in size by enrolling thousands of international students, and critics say the campus and community weren't ready. Watch the documentary 'Cash Cow' on CTVNews.ca and W5's official YouTube channel.
-
N.S. man searching for missing son finds 38-year-old message in bottle from young boy
A Nova Scotia man who has searched for his missing son almost every day for nearly three years recently came across a letter in a bottle written by an 11-year-old boy about four decades ago.
-
'Shame on them': last bank in Louisbourg, N.S., slated to close
Residents in Louisbourg, N.S., say the expected closure of its last bank is yet another hit to a community in recovery.
Northern Ontario
-
Northerners wish the weather was an April Fool's Day joke
Many in the northeast looked outside their windows this morning to find that the weather was certainly no April Fool's Day joke.
-
W5 investigates
W5 investigates | Priest, neighbours issue plea for help for struggling international students in Cape Breton
Cape Breton University has more than doubled in size by enrolling thousands of international students, and critics say the campus and community weren't ready. Watch the documentary 'Cash Cow' on CTVNews.ca and W5's official YouTube channel.
-
New ophthalmology clinic in Timmins to offer extended vision care to patients
Timmins ophthalmologist Dr. Alejandro Oliver along with Timmins and District Hospital official and local leaders have officially opened a new ophthalmology locum clinic.
London
-
West Lorne Arena wins big with Kraft Hockeyville
West Lorne came out on top along finalists Saint-Anselme, Que., Maple Ridge, B.C., Ste. Anne, Manitoba winning the Kraft Hockeyville 2023 on Saturday
-
-
London, Ont. firefighters brave floodwaters of the Thames River in search
Early Saturday afternoon, the London Fire Department began a search of the Thames River, east of Adelaide Street.