Business
Canadians Concerned About Retirement Savings and Rising Interest Rates but Lack Investment Knowledge
AGF survey finds investors turning to financial advisors to help them rethink risk  ...
About this update from Agf Management Limited Class B
[{"type":"text","content":"\n\n\nAGF survey finds investors turning to financial advisors to help them\n rethink risk  \nAGF launches AGF.com/InvestorSurvey\n\n\nTORONTO, June 19, 2014 /CNW/ - A recent Nielsen investor survey\n commissioned by AGF Management Limited (AGF) found that seven in ten\n Canadians are concerned they have not saved enough for retirement while\n more than six in ten have not taken measures to protect their portfolio\n against the potential of rising interest rates because they are not\n sure what to do. This may provide an opportunity for increased\n engagement between investors and their advisors.\n\n\nThe survey was conducted in February 2014 and polled 1001 Canadians\n 35-years and older with at least $25,000 in investible assets and found\n that:\n\n\n\n69% of Canadians are concerned that they have not saved enough for\n retirement\n\n\n71% are somewhat or not at all knowledgeable about investing\n\n\n59% are concerned about the effect rising rates may have on their\n investment portfolio, but have done nothing to protect their portfolio\n as they are not sure what to do\n\n\n\n\n\n\n\"We know people are not saving enough for their retirement and may not\n be prepared to deal with future market volatility. What this survey\n shows is that a growing number of Canadians recognize these as\n important issues and want to address them,\" said Blake C. Goldring,\n Chairman and Chief Executive Officer of AGF Management Limited.\n \"Financial literacy and financial advice are the best tools to employ\n in these circumstances and these survey results indicate that Canadians\n recognize the value of both. Our industry is critical to the long term\n financial success of Canadians and we have a great opportunity to\n reshape how investors approach savings and how they think about risk.\"\n\n\nThe Investment Disconnect\n\n\nWhen asked if they were on track to meet retirement goals, 69% of\n Canadians indicated concern that they have not saved enough for\n retirement and only one in ten indicated they were confident they will\n reach their retirement goals. Surprisingly however, when considering\n their current investment state relative to where they want to be when\n they retire, more than half (57%) believe they need to 'stay the\n course' and continue with their current investment strategy, indicating\n a disconnect between beliefs ...