TD Canada Trust Personal Finance Survey
National Survey Highlights
TD Canada Trust commissioned a poll to examine what issues and concerns Canadians were facing during these current economic times.
- Three-quarters of Canadians are optimistic about their long term financial future however many (77%) are worried about the short term
- More than one-quarter of Canadians are living paycheque-to-paycheque and 57% of Canadians say the economic downturn has had a negative impact on their personal financial situation
- The top three financial concerns for Canadians are:
- The day-to-day aspect of maintaining current lifestyle (22%)
- Losing money from investments (18%)
- Having enough money to retire on (16%)
- Ontarians are most likely to be worried about the effects of the economic downturn, with 80% saying that they are somewhat or very concerned.
- Residents of Manitoba and Saskatchewan are least likely to be concerned (71%), along with residents of the Atlantic (72%)
- Women are most likely to be concerned that the economic downturn will have, or continue to have, a negative impact on them in the near future (84% of women compared to 69% of men)
Other survey findings:
- 5% of Canadians surveyed said they have recently lost their job/been laid off
- 11% of Canadians said they are concerned they will lose their job
- 9% said they have delayed retirement/cannot afford to retire when they originally planned
- For Canadians aged 50+, the biggest financial concern is losing money from investments (27%), followed by maintaining current lifestyle (24%) and having enough money to retire (22%)
- 67% of Canadians said they are concerned about saving enough money to retire. Canadians aged 40 to 49 are most concerned about this (80%). 65% of those 50 plus agree they are also concerned
About the survey:
The TD Canada Trust Personal Finance Survey examined the issues and concerns of Canadians during these uncertain economic times. The survey was conducted by Angus Reid Strategies from April 8 to 16, 2009. The sample size includes a nationally representative sample of 1,014 men and women.