No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Thursday, October 9, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Money

Having a financial plan more than doubles your retirement confidence—here’s why so many Canadians are skipping it

by TheAdviserMagazine
11 hours ago
in Money
Reading Time: 3 mins read
A A
Having a financial plan more than doubles your retirement confidence—here’s why so many Canadians are skipping it
Share on FacebookShare on TwitterShare on LInkedIn


That’s a massive gap—and it’s widening at a time when more Canadians are rethinking their financial strategy. The survey of 1,045 Canadians found that 52% said economic uncertainty is causing them to consider creating a financial plan or overhauling an existing one.

Having a plan is clearly beneficial, so why aren’t more people doing it? According to the survey, there are three culprits: cost, complexity, and confusion about what a financial plan even is.

The barriers holding Canadians back

Nearly half (45%) of survey respondents haven’t worked with a professional planner before:

43% say they’re unsure about the process or whether it’s worth the money

42% think it’s too expensive

Only 44% have a “very clear” understanding of a financial plan entails

But here’s the thing: among the 55 per cent of Canadians who have worked with a professional planner, 56% say the value was completely worth the cost. Another 37% said it was somewhat worth it—so that’s 93% who felt they got their money’s worth.

The KPMG report shows that 53% of Canadians believe a financial plan is “extremely valuable,” but it seems that misconceptions about cost and complexity are preventing them from taking that next step.

Also read: Financial planning for the first time? A guide for women on a single income

DIY plans beat no plan, but professional guidance wins

Of the survey respondents, there are three groups: 55% have a professional plan, 25% created their own, and 20% have nothing. Those who went the DIY route feel significantly more confident than those without (72% vs. 36%), but they still lag behind those who sought the help of a professional planner.

The generational split on technology

Age also seems to play a role in how Canadians view financial planning:

54% of Gen Z (ages 25–30) would prefer a self-service digital tool to a human advisor

41% of Millennials (ages 31–45) want tools plus human support

Gen X (ages 46–60) is evenly split across all three options

56% of Baby Boomers (ages 61–79) want to work exclusively with a human advisor

There’s one thing every age group agrees on: 72% want real-time access to their financial plans, saying it would enhance their experience.

Article Continues Below Advertisement

Outstream Volume Icon

Skip Ad

X

The bottom line

The survey data appears compelling: professional financial planning delivers measurable results. But, at the end of the day, some plan is better than no plan. If cost or complexity is holding you back—or you simply prefer using online tools to do things yourself—have a go at creating your own plan. You can always check in with a financial advisor for feedback and suggestions to help boost your confidence and ensure you’re on the right track towards a comfortable retirement.

Get free MoneySense financial tips, news & advice in your inbox.

Read more about financial planning:

About Jessica Barrett

About Jessica Barrett

Jessica Barrett is the editor-in-chief of MoneySense. She has extensive experience in the fintech industry and personal finance journalism.



Source link

Tags: CanadiansconfidenceheresDoublesfinancialplanretirementSkipping
ShareTweetShare
Previous Post

ZunZeno – How The US Govt Used Social Media To Spur Social Unrest In Cuba

Next Post

The Nordic approach to business builds empowerment, team spirit and engagement. But can you copy it? 

Related Posts

edit post
Error in Your Earnings Record Could Slash Benefits Forever

Error in Your Earnings Record Could Slash Benefits Forever

by TheAdviserMagazine
October 8, 2025
0

Image Source: Shutterstock Your Social Security benefits are only as accurate as the record they’re based on—and mistakes in your...

edit post
Silent Gaps in Medicaid Before 65 Everyone Misses

Silent Gaps in Medicaid Before 65 Everyone Misses

by TheAdviserMagazine
October 8, 2025
0

Image Source: Shutterstock Many Americans assume Medicaid will catch them if they lose coverage or face serious illness before 65....

edit post
Hospital Transfers Can Include Hidden Fees If You Don’t Read the Fine Print

Hospital Transfers Can Include Hidden Fees If You Don’t Read the Fine Print

by TheAdviserMagazine
October 8, 2025
0

Image Source: Shutterstock Being transferred from one hospital to another sounds simple—but the bill often tells a different story. Many...

edit post
Travel Outside the U.S. Might Break Parts of Your Medicare Coverage

Travel Outside the U.S. Might Break Parts of Your Medicare Coverage

by TheAdviserMagazine
October 8, 2025
0

Image Source: Shutterstock Retirees often dream of traveling the world, but few realize Medicare doesn’t always follow them abroad. Once...

edit post
The Hidden Habits That Separate Financially Confident People from the Rest

The Hidden Habits That Separate Financially Confident People from the Rest

by TheAdviserMagazine
October 8, 2025
0

When you look at someone who carries themselves with quiet financial confidence, you can feel it. They are not loud...

edit post
Why late-career savers need to be careful with RRSPs

Why late-career savers need to be careful with RRSPs

by TheAdviserMagazine
October 8, 2025
0

When should you keep contributing to your RRSP? If you have a group RRSP with matching contributions from your employer,...

Next Post
edit post
The Nordic approach to business builds empowerment, team spirit and engagement. But can you copy it? 

The Nordic approach to business builds empowerment, team spirit and engagement. But can you copy it? 

edit post
Global peace hopes ignite ‘everything rally’ across assets, says Anurag Singh

Global peace hopes ignite ‘everything rally’ across assets, says Anurag Singh

  • Trending
  • Comments
  • Latest
edit post
What Happens If a Spouse Dies Without a Will in North Carolina?

What Happens If a Spouse Dies Without a Will in North Carolina?

September 14, 2025
edit post
Pennsylvania House of Representatives Rejects Update to Child Custody Laws

Pennsylvania House of Representatives Rejects Update to Child Custody Laws

October 7, 2025
edit post
Does a Will Need to Be Notarized in North Carolina?

Does a Will Need to Be Notarized in North Carolina?

September 8, 2025
edit post
DACA recipients no longer eligible for Marketplace health insurance and subsidies

DACA recipients no longer eligible for Marketplace health insurance and subsidies

September 11, 2025
edit post
Tips to Apply for Mental Health SSDI Without Therapy

Tips to Apply for Mental Health SSDI Without Therapy

September 19, 2025
edit post
Raymond James sues to retrieve dead advisor’s laptop

Raymond James sues to retrieve dead advisor’s laptop

September 11, 2025
edit post
Why Citi believes blockchain is ‘here to stay’ on Wall Street

Why Citi believes blockchain is ‘here to stay’ on Wall Street

0
edit post
China Purchased B From The US In Semiconductor Chips

China Purchased $38B From The US In Semiconductor Chips

0
edit post
Bitcoin and Ether ETFs Extend Inflow Streak to 8 Days

Bitcoin and Ether ETFs Extend Inflow Streak to 8 Days

0
edit post
Travel Outside the U.S. Might Break Parts of Your Medicare Coverage

Travel Outside the U.S. Might Break Parts of Your Medicare Coverage

0
edit post
Gaza pact “mighty turning point” for Israeli real estate

Gaza pact “mighty turning point” for Israeli real estate

0
edit post
The Crash Bros are Wrong (Again!)

The Crash Bros are Wrong (Again!)

0
edit post
Why Citi believes blockchain is ‘here to stay’ on Wall Street

Why Citi believes blockchain is ‘here to stay’ on Wall Street

October 9, 2025
edit post
Bitcoin and Ether ETFs Extend Inflow Streak to 8 Days

Bitcoin and Ether ETFs Extend Inflow Streak to 8 Days

October 9, 2025
edit post
Gaza pact “mighty turning point” for Israeli real estate

Gaza pact “mighty turning point” for Israeli real estate

October 9, 2025
edit post
The Crash Bros are Wrong (Again!)

The Crash Bros are Wrong (Again!)

October 9, 2025
edit post
The “Acid Rain” Scare and the Science-Industrial Complex

The “Acid Rain” Scare and the Science-Industrial Complex

October 9, 2025
edit post
Crypto Funds Flip Total 2024 Inflows At .7 Billion YTD

Crypto Funds Flip Total 2024 Inflows At $48.7 Billion YTD

October 9, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • Why Citi believes blockchain is ‘here to stay’ on Wall Street
  • Bitcoin and Ether ETFs Extend Inflow Streak to 8 Days
  • Gaza pact “mighty turning point” for Israeli real estate
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.