The Pulse of North America

What are Canadian investors' most important short- and long-term financial goals?

Investors across all three generations share common concerns. Life’s curveballs such as economic dips, health emergencies, or unexpected bills have the potential to derail their financial plans. Still, 61% of Canadians surveyed remain optimistic about their financial future with goals that include retirement, leaving an estate, improving cash flow, and travel.

When it comes to short-term goals, Millennials and Gen Xers are focused on building emergency funds and improving cash flow; Boomers are more focused on preparing for retirement. For long-term goals, Millennials tend to be more concerned about buying a home or saving for major life events; Gen Xers and Boomers are more focused on retirement and leaving a legacy.

Top financial goals and concerns for each generation

What does financial fulfillment look like?

Most people believe a financially-fulfilled life is within reach. But getting there could be difficult given today’s market conditions. With the rising cost of living, healthcare, and housing, many say they feel like they’re racing to keep up. However, financial fulfillment isn’t just about building wealth. It’s about feeling secure, having your needs covered, and having the freedom to enjoy what you want. That could include activities such as traveling, spending time with loved ones, or pursuing hobbies.

Investors say true financial freedom means they’re not constantly worrying about bills. They’re willing to cut back on spending and aggressively pay down debt if it brings them closer to financial confidence.

Key survey insights:

• Top goals tied to financial fulfillment: emergency savings, retirement savings, and being able to leave something behind for the next generation
• Many define fulfillment as living debt-free, having a sense of security, and enjoying life without money-related stress.

Key goals in a financially-fulfilled life 

How are Canadian investors approaching the transfer of wealth? 

For many Gen Xers and Boomers, leaving a legacy matters. Whether it’s funding education, helping with a first home or simply providing financial stability, they want to give their children a stronger start than they had. Some are even gifting during their lifetimes to see the impact firsthand.

At the same time, many are navigating how best to pass along not just wealth, but values. Those could include responsibility, integrity and unity. While optimism about the future varies, there’s a strong desire to prepare and protect the next generation.

Key survey insights:

• Almost one-third of investors are actively transferring or planning to leave assets.
• The most valued legacies include family unity, financial literacy, and work ethic.
• 50% of Canadian wealth givers believe the next generation is adequately prepared to be good stewards of their wealth.