Canadians are examining — and often rethinking — their approach to money, saving and retirement planning as we emerge from lockdowns spawned by the COVID-19 pandemic.
Discussions about mental health and inflation as well as concepts, such as the Great Resignation are taking place. A study by CIBC zeroed in on a few of those ideas by asking Canadians how they feel about saving and, more particularly, saving for retirement in the wake of the pandemic.
More than half of us, it turns out, see a direct link between our financial well-being and our overall wellness. So, some are changing their way they go about managing money.
This is especially true among younger people. Yet, despite saying financial health is important, the vast majority do not have a retirement saving plan nor are they planning to seek out professional help on the money management front.
There is a gap between men and women on some fronts, too. Roughly a third of women don’t know how much they’ll need to retire or when they’ll stop working compared to 20 per cent of men.
A gap between attitudes and actions can be an opportunity to tell your story to build relationships. Telling stories about Canadians who benefited from saving for retirement and describing how they made retirement saving possible during their working years can be influential. These types of stories can help Canadians swap out the stories they tell themselves that get in the way of taking action to save money. Narratives influence behaviours in ways that data, such as survey results, do not. Martin Charlton Communications can work with you to strategically tell your stories.
