CSA Survey on Retirement and Investing

Well, it’s official. Investing does give you comfort for the future.

According to a survey by the Canadian Securities Administrators, investors are twice as likely to believe they will have enough money to meet their retirement needs (62 per cent) as compared to their non-investing counterparts (31 per cent).

This is just one of the findings included in the 2010 CSA Survey on Retirement and Investing released today as part of Investor Education Month in October.

The survey also found that 71 per cent of Canadian investors say they’ve done research on their last investment opportunity, either themselves (31 per cent) or through their financial advisor (40 per cent). In addition, when it comes to recommendations on high return investments from friends and family, most Canadians would do more research before investing.

Here in BC, the survey found that half of British Columbians would do more research on an investment offering high returns recommended by a family, friend or colleague – above the national average (44 per cent). Our newly redesigned website www.InvestRight.org is a great resource to help people conduct this research.

As well, BC residents surveyed say that almost half relied on their advisor to research their last investment. While it is better to personally research an investment if you have time or the information to do so, this finding does point to how important it is to choose and work with your advisor properly. Our guide available online can help you do this better.

Conducted by Ipsos Reid on behalf of the CSA, the online survey asked 2,318 Canadian adults about their financial readiness for retirement and behaviour towards investment opportunities.

A full copy of the survey is available here.