EDMONTON, July 11, 2017 /CNW/ - According to ATB Investor Beat, 52 per cent of Albertans report being impacted by the drop in oil prices, significantly lower than last quarter (58 per cent).
Not surprisingly, this correlates to the number of Albertans who have an increasingly optimistic view of the province's economy. It also correlates to the number of Albertans who feel more optimistic about job opportunities, which has risen steadily over the past three quarters (from October 2016 to April 2017).
As job prospects improve and optimism along with it, paying down debt is still a top priority. However, overspending and unexpected expenses are cited by respondents as some of the key reasons for not being on top of financial goals. Among Albertans whose financial goals are building an emergency fund or saving for a home, 60 per cent and 59 per cent are behind on these goals, respectively.
Both are obstacles that can be overcome with solid financial planning and clear savings goals but, as this volume of Investor Beat explores, it's important to be aware of the impact that emotions might have on investing.
The previous volume of Investor Beat introduced the Optimism Index, which will help gauge how investors are feeling–including how they might be tempted by emotional investing behaviours. This volume explores the importance of not letting emotions play a part in investment decisions.
"It's impossible to turn our emotions off. That's the blessing and the curse of being human," says Chris Turchansky, president of ATB Investor Services. "My best advice is to learn to recognize your emotional behaviours and acknowledge their ability to sway your investment judgment. And when all else fails, enlist the services of a trusted advisor who is able to offer perspective and help you avoid the pitfalls of emotional investing."
Other highlights of this quarter's ATB Investor Beat survey include:
- For Albertans who are feeling financially pinched, cost of living remains the top reason.
- Millennials have partially turned their sights towards home purchases and saving for vacation, while Gen Xers remain focused on saving for retirement.
- While more Albertans report having had their fees explained to them, a proportion admit to being confused about them. Learn more about investment fees at atb.com/trust.
The Investor Beat survey was conducted by Ipsos from April 3, 2017 to April 13, 2017, and involved 1,008 participants. Results are considered accurate to within plus or minus 3.5 percentage points.
For the complete Investor Beat results click here.
About ATB Financial
With assets of $48.6 billion, ATB Financial is Alberta's largest home-grown financial institution. Established in 1938, ATB is a network of 173 branches, 143 agencies, a Customer Care Centre, two Entrepreneur Centres, along with mobile and online banking. ATB's 5,021 team members help more than 725,000 customers in 247 Alberta communities.
SOURCE ATB Financial
For further information: To schedule an interview with Chris Turchansky, please contact: Connie Smart, Corporate Reporter, ATB Financial, 587-785-0915, firstname.lastname@example.org