Is now the time to invest? Canadians are split on that decision
Amid uncertainty in the economy and the still-present pressures of inflation, a new survey shows the country is split on whether now is the right time to be investing.
The survey from investment dealer Edward Jones Canada, which polled 1,003 Canadians 18 and older online between May 14-17, found 43 per cent felt now is a good time to buy things like stocks and bonds, as well as contribute to tax-free savings and RRSP accounts, while 40 per cent had a negative outlook on investing right now.
“So we saw consistency with those that have financial plans. They want to stick to their plan, so continue to invest to meet their goals,” Julie Petrera, Edward Jones senior strategist, client needs, told Global News. “Those that are hanging back, that have uncertainty. They could have either deliberately chosen to hang back to say I’d rather pay down debt than invest … So we are in a period of high inflation, high interest rates and political unrest, so people may just want to sit back and wait and see.”
Yet, while the country appears evenly split, there’s a wider gap depending on where you live.
The highest number of Canadians who feel positive about investing are centred in Quebec, with 51 per cent saying now is the right time, while 37 per cent in the province feel the opposite.
The same can’t be said for those in Alberta, which had the lowest positive outlook of just 29 per cent, with 45 per cent in the province saying now is not the right time to invest.
When it comes to other provinces, the numbers continue to vary with places like Ontario and B.C. feeling fairly confident in investing at 43 and 47 per cent, respectively.
Meanwhile, respondents in Atlantic Canada, Manitoba and Saskatchewan are a bit more hesitant with just 35
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