08/21/2023
The new Manulife Bank Financial Health Survey is now here. Not only does it reveal how Canadians were feeling about their finances this Spring, it’s even more relevant today with another Bank of Canada rate increase.
• The vast majority think Canada is facing an affordable housing crisis (80%) and an affordability crisis, more generally (81%)
• 54% of Canadians do not feel great about their financial future
• 84% of Canadians think their country is headed for a recession or is already in one
However, 44% of Canadians feel more prepared for a forthcoming economic recession. Almost half of Canadians are optimistic that affordability (43%), the inflation rate (47%), and the national economy (48%) will improve or at a minimum, remain unchanged, over the next year.
What makes the biggest difference? Having a plan and working with a professional
• 88% of Canadians who have an advisor think they are getting good financial advice
• 79% feel better about their financial situation because of the work their advisor does
• 72% of Canadians with an advisor perceive them turning financial negatives into positives, and
• 70% say their advisor has helped changed their mindset
You’re doing great but there is no time to rest on your achievements.
Contact me today!
