Canadians Concerned about Retirement
IllustrationPic: IllustrationAccording to the Russell Financial Health Index (RFHI), which is based on an online calculator that measures the overall financial health of Canadian investors, Canadians are becoming more concerned about having a reliable source of income in retirement and being able to lead an active and healthy lifestyle at the same time. The RFHI also allows for investors to compare their financial health with Canadians across the country.
Another increase in concern for investors is having sufficient income to cover their essential expenses, and the financial impact on medical and healthcare needs.
With higher points indicating greater financial optimism, the RFHI recently decreased in the second quarter of 2010 to 47 points. According to Fred Pinto, Managing Director of Distribution Services at Russell Investments Canada Limited, this is the lowest level recorded to-date. The benchmark was established in 2008.
“These results reflect the anxiety and much less positive mood of some investors as the market has reacted to economic indicators and global factors, such as the situation in southern Europe,” he stated.
“However, investors should also keep in mind that the Canadian and U.S. economies continue to show signs of stability. Positive economic indicators may result in strong capital market returns going forward. In fact, the recently released Russell Investment Manager Outlook shows that 63% of Canadian investment managers are bullish on Canadian equities, while 61% are optimistic about U.S. equities.”
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