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Snapshot of
the typical
Canadian investor

23%

of CANADIANS
HAVEN'T STARTED INVESTING.

NEARLY HALF OF CANADIANS
STARTED INVESTING
BEFORE 30

4 OUT OF 10
who are currently investing wished they had begun at an earlier age

In 2014, 63% of Canadians planning to retire in the future are currently saving for retirement

This is down from 78% in 2010

Canadians TOP SOURCE for FINANCIAL INFORMATION or advice is a BANK(46%)

Canadians currently saving for retirement put away
$732/month
on average,
up from $561 in 2013.

1 in 3
Canadians plan to contribute to an RSP this year (35%)

43%

of Canadians expect to retire between the ages of 60 and 69

10%

of Canadians expect to retire at age 70+

This has doubled since 2013

2 in 5 Canadians plan to contribute to a TFSA this year (39%)


1 in 4 don't know what it is, how it works, or have ever heard of it (23%)

Tips for your TFSA

  • By putting your money in a Tax-Free Savings Account any interest that accrues is all yours
  • TFSA funds can be withdrawn tax free at any time, for any purpose
  • TFSAs have annual contributions limits which are retroactive if you've never opened or contributed before

In 2013, only 47% of Canadians understood the difference between an RSP and a TFSA

About the polling data

Scotiabank calculations based on an online survey conducted by Nielsen for Scotiabank among Nielsen panel members who have at least some responsibility for saving and investment decisions in the household. Data was collected for the 2014 wave from 1,007 respondents between December 5 and December 18, 2014 and for the 2013 wave from 1,029 respondents between November 12 and November 27, 2013.