Sask. and Manitoba residents contributed the least to investments in 2022: Survey
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.
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.
U.S. President Joe Biden arrived in Ottawa Thursday evening for a whirlwind 27-hour visit expected to focus on both the friendly and thorny aspects of the Canada-U.S. relationship, including protectionism and migration on both sides of the border.
Canada and the United States are negotiating a deal that could see asylum seekers turned back at irregular border crossings across the border, including Roxham Road in Quebec.
Amid renewed questions over the pervasiveness of alleged interference by China in Canadian elections and affairs broadly, opposition MPs voted Thursday afternoon to affirm a parliamentary committee's call for the federal government to strike a public inquiry.
An asteroid discovered just last week will pass closer to the Earth than the orbit of the moon this weekend, an occurrence so rare it happens only once in a decade, according to NASA.
The number of Canadians receiving employment insurance benefits are at record lows and down 44 per cent from last year, new figures from Statistics Canada show.
Two Kanien'keha:ka (Mohawk) sisters from Montreal are on a mission that is close to their hearts: to save their ancestors' first language by developing video games young and old can play.
Zellers has opened the first of 25 new locations within Hudson's Bay stores across the country. The Canadian retail chain launched 12 stores in Ontario and Alberta Thursday, along with a new e-commerce website.
Embattled South Carolina Comptroller General Richard Eckstrom will resign next month after a US$3.5 billion accounting error in the year-end financial report he oversaw.
Selkirk RCMP have arrested and charged a man after he allegedly killed his dog, smashed out the windows of a home and two cars with an axe, and set fire to a shed on his property.
The Alberta legislature wrapped up its spring sitting Thursday with politicians on both sides of the aisle test-driving insults and expected attack lines ahead of the scheduled May 29 provincial election.
An Ontario man said he was shocked when his truck was stolen not once but twice, and the second time it was taken he was surprised to discover he was no longer covered for theft.
U.S. President Joe Biden arrived in Ottawa Thursday evening for a whirlwind 27-hour visit expected to focus on both the friendly and thorny aspects of the Canada-U.S. relationship, including protectionism and migration on both sides of the border.
U.S. President Joe Biden and first lady Jill Biden arrived in Ottawa on a foggy Thursday evening, kicking off a whirlwind two-day visit to the capital. Ottawa police and the city of Ottawa have warned residents and visitors will see an increased police presence across the downtown core, and there will be "significant traffic and transit disruptions" during the visit.
When a former detective with the Vancouver Police Department discovered photos of his home were being used in a rental scam, he decided to start his own investigation.
For the first time, the owner of a building in Old Montreal has responded to questions about the fire — through his lawyer — addressing allegations that the building was unsafe.
Friends of Camille Maheux are trying to assemble some of her life's work. The 76-year-old photographer was killed in the Old Montreal fire and her photographs and negatives were destroyed.
A Victoria man’s life of crime has turned into one of survival, hope and advocacy amid ongoing conversations in the community about how best to tackle public safety matters.
The Tim Houston PC government remains firm in their promise they'll fix the health-care system by spending more taxpayer money on health than any previous government before.
The rate of snow and rain falling in the Maritimes will pick up late Thursday afternoon into evening as a weather system makes its way across the region.
The co-owners of a new liquidation store in North Bay, Samuel Quesnel and Chloé Boivenue, say they want to bring a treasure hunt shopping experience to the city.
The new provincial budget features items specific to southwestern Ontario, including a new English public elementary school in London, Ont. that will serve 556 students and include 88 licensed childcare spaces.
A young Strathroy, Ont. man believes there's a promising way forward in the effort to fight his disease. But, he's being told, right now, that path isn't open to him. Friends and family are stepping up to try and make a case for Kyle McPhee to receive immunotherapy treatments.
