Jun 24, 2019, 08:35 ET
Tune into FidelityConnects webcast on June 26 @ 12:00 PM ET to learn how other Canadians are thinking about retirement
TORONTO, June 24, 2019 /CNW/ - Fidelity Investments Canada ULC, one of Canada's top investment management firms, today released Retirement 20/20, an annual survey that examines opportunities and challenges facing Canadians already in and approaching retirement. This year's report showcases how Canadians feel about retirement and includes major trends such as working in retirement, carrying debt into retirement and where they're going for advice.
For Canadians interested in hearing more about the latest retirement trends and strategies, Fidelity's own tax and retirement expert, Michelle Munro, will be hosting a live, interactive webcast on June 26 2019 at 12:00 PM ET - register by clicking here. Michele will provide commentary on the latest findings and offer Canadians Five Strategies You Need to Know to help them prepare for retirement. The webcast will also be re-broadcast at 7:00 PM ET on June 26, 2019 and will be available on the FidelityConnects podcast.
"For Canadians, the path to retirement is becoming more complex. With higher debt loads and longer than ever life expectancy, those approaching retirement must think critically, plan ahead and take action today," said Michelle Munro, Director, Tax and Retirement Research. "Our latest research findings show that working with a professional financial advisor and putting a plan on paper is the best way to navigate this new environment."
Key findings from the 20/20 Retirement Report:
- Carrying Debt into Retirement - Nearly half (46%) of pre-retirees expect to have long-term IOUs heading into retirement.
- Optimism - However, nearly nine in ten pre-retirees (87%) with a written financial plan have a positive outlook on life in retirement, while less than half of pre-retirees (42%) who do not have a plan have a negative outlook.
- Holistic Benefits - Pre-retirees who have planned ahead by putting their retirement plans on paper relative to those who have not feel better prepared financially (88% vs 43%), emotionally (79% vs 64%), socially (84% vs 67%) and physically (89% vs 67%).
- What Canadians Want - Retirees and pre-retirees trust their financial planner or advisor the most when it comes to retirement planning, with social media being the least trusted source of information. Canadians want their advisor to get to know them better and identify what issues need to be considered (73%), help them feel comfortable about their financial security (87%), understand what issues and trends could impact their investments (84%) and plan for the unexpected (62%), such as job loss, divorce and medical emergencies.
- New Trend is to Work More - More retirees (34%) are working to keep mentally and physically active, to have a sense of purpose, for social, financial and other reasons. Almost three in four (70%) pre-retirees say they believe they will be working in retirement.
For more information about Retirement 20/20, visit www.fidelity.ca/retirementsurvey.
Click here to register for the Five Strategies You Need to Know webcast.
About Retirement 20/20
As part of a commitment to helping Canadian investors make smarter decisions about their retirement, Fidelity Canada conducts an annual survey of investors to gather insights as to how they are approaching the next stage of their lives.
The 2019 Fidelity Retirement Survey is focused on what role financial advice and planning plays in Canadians' retirement. Fidelity Canada surveyed 1,926 Canadians aged 45 and older online over the period of April 25 and May 7, 2019. A disproportionate sample of pre-retirees and retirees was completed to allow for regional and gender analysis. The results were then weighted to reflect the National proportional distribution of those 45 years of age and older. Were a probability sample of this size to be taken, it would yield results accurate to +/- 2.2 percentage points, 19 times out of 20.
About Fidelity Investments Canada ULC
Fidelity Investments Canada ULC is one of Canada's top investment management firms managing a total of $135 billion in mutual fund and institutional assets. This includes $34 billion in assets for institutional clients including public and corporate defined benefit pension and defined contributions plans, sub-advised programs, endowments, foundations and other corporate assets on behalf of clients across Canada as at May 31, 2019.
Fidelity Investments Canada ULC provides Canadian investors a full range of domestic, international and income oriented mutual funds, as well as asset allocation, managed solutions, ETFs and a high net worth program. Fidelity Funds are available through a number of advice-based distribution channels including financial planners, investment dealers, banks, and insurance companies.
Read a fund's prospectus and consult your financial advisor before investing. Exchange-traded funds are not guaranteed; their values change frequently and past performance may not be repeated. Commissions, management fees, brokerage fees and expenses may all be associated with investments in exchange-traded funds and investors and may experience a gain or loss.
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SOURCE Fidelity Investments Canada ULC
For further information: Chris Pepper, Vice-President, Corporate Affairs, Fidelity Investments Canada ULC, T: (416) 307-5388, M: (416) 795-7762, E: [email protected]
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