However, 64% of Quebecers have no financial plan and only 18% have a written financial plan
LÉVIS, QC, Nov. 27, 2014 /CNW Telbec/ - When asked in a recent survey about their personal financial planning, 82% of Quebec respondents considered themselves to be strong planners and 85% admitted to being more effective when they do plan ahead. For example, 92% would plan their retirement and other projects in advance, however only 45% would actually commit the time to complete the task and 64% still don't have a financial plan at all. By contrast, 18% said they did have a written financial plan, which is up from 16% in 2013.
These results come from an online survey of 1,000 adult Quebecers conducted by research firm SOM on behalf of Desjardins Wealth Management, which took place between September 18 and 29, 2014.
Next to making successful plans to buy a new home or to start a renovation project, survey respondents appear to be excellent at achieving their goals thanks to a solid support system of family, friends and experts. This rings especially true whether they're planning a party (91%), a trip (89%) or starting a fitness regime (84%). When asked about other goals they're particularly proud of, 75% of Quebecers say they've always had a plan to help them succeed.
Give yourself the freedom to achieve what's important to you
"Creating a written financial plan for yourself is no more complicated than planning for renovations," says Marc Dubuc, Senior Director, Marketing at Desjardins Wealth Management. "Two meetings with an advisor is usually all it takes. Expert advice is just as important for planning in the financial world as it is for planning a construction project or getting into shape. And although 64% of Quebecers don't have any type of financial plan at all, at least 75% understand that it could help them reach their professional or retirement goals."
According to Desjardins Wealth Management data, written financial plans are gaining in popularity. In fact, three times more Desjardins members have sat down with their Desjardins advisor to draw one up in the past year.
Retirement Savings Data: Often repeated, yet quickly forgotten
About the survey
Desjardins Wealth Management commissioned research firm SOM to conduct an online survey of 1,000 Quebec adult Internet users between September 18 and 29, 2014. The maximum margin of error for all respondents is ±3.8% with a confidence level of 95%.
About Desjardins Group
Desjardins Group is the leading cooperative financial group in Canada and the fifth largest cooperative financial group in the world with assets close to $227 billion. It has been rated one of Canada's top 100 employers by Mediacorp Canada. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada. The group has one of the highest capital ratios and credit ratings in the industry. In 2014, Desjardins was named the fourth safest bank in North America by Global Finance magazine and the second strongest bank in the world by Bloomberg News.
SOURCE: Desjardins Group
For further information: Information (for journalists only): Richard Lacasse, Media Relations, Desjardins Group, 418-835-8444 or 1-866-835-8444, ext. 3163, [email protected]