Survey: Optimistic about your finances? It may depend on where in Canada you live

News release | June 3, 2024

Edward Jones poll finds Canadians’ views split on current economic climate

TORONTO, ON, June 3, 2024 – Amid ongoing economic uncertainty, Canadians are divided on their outlook of the current economic climate and whether now is a good time to invest. New data from Edward Jones Canada finds that while 43 per cent feel like now is the right time, an almost equal number (40 per cent) have a negative outlook on current investment opportunity. One-sixth (17 per cent) are unsure.

According to the research, there is also a vast disparity between Canadians in different parts of the country regarding their current views on investing. While a majority of Quebeckers (51 per cent) have a positive outlook on investing, the number is much lower, just 29 per cent, in Alberta. In comparison, 49 per cent of those living in Saskatchewan and Manitoba say they don’t feel now is the right time to invest.

“High inflation and interest rates have made the past years financially challenging for many Canadians," says Julie Petrera, Senior Strategist, Client Needs at Edward Jones. “Some are taking a wait-and-see approach while others are seeking investment opportunities in this economy. One contributing factor seems to be whether or not the individuals have goals, plans or work with an advisor. Unsurprisingly, those partnering with advisors are more optimistic about investing and their financial future.”  

The research reinforces the value of working with a financial advisor. Of those who work with a financial advisor, 55 per cent have a positive outlook on investment, compared to just 38 per cent who do not. Even among Canadians with a negative outlook on investing, those working with a financial advisor are more optimistic about their financial situation (41 per cent) than those who don’t (25 per cent).  

Canadians who say now is the right time to invest share a single common motivator: reaching financial goals. For example:

  • 64 per cent are motivated by saving for long-term goals such as retirement, education, or home ownership.
  • 37 per cent are motivated by saving for short-term goals such as travel, major purchases, home repairs or renovations.
  • 38 per cent are motivated by maximizing tax advantages that come with investment vehicles such as RRSPs and FHSA.

The research also reveals the differences between men and women's outlook on investing. While the majority (51 per cent) of men feel like now is the right time to invest, only 35 per cent of women feel the same. In the group with a positive outlook on investing, women are more motivated by financial goals, with 71 per cent saving for long-term goals (versus 59 per cent of men) and 47 per cent of women saving for short-term goals (versus 31 per cent of men).

Canadians’ top reasons for not investing right now are economic uncertainty (54 per cent) and paying down debt (43 per cent). But with inflation stabilizing and interest rates expected to come down, this is a critical moment for Canadians considering where to go next with their financial decision making. Among those who had a negative outlook on investing, the majority (54 per cent) are likely to invest if conditions improve, with Ontarians most likely at 62 per cent.

Online Polling Methodology

Between May 14 to 17, 2024, 1,003 Canadians, 18 years of age or older participated in the online survey by Pollara Strategic Insights. A representative sample of this size would be considered accurate to within ±3.1%, 19 times out of 20. Results have been weighted using the latest Stats Can data to be representative of the Canadian population.

About Edward Jones Canada

Edward Jones is a full-service investment dealer which provides a range of investment products, services, and solutions to retail investors. We have more than 850 financial advisors in Canadian communities from coast-to-coast. A member of the Canadian Investment Regulatory Organization and the Canadian Investor Protection Fund, the firm is also a participating organization in the Toronto Stock Exchange. For more information, visit

Media Contact:

Darryl Konynenbelt
Edward Jones Public Relations 
[email protected] 

Adam McPhail
Proof Strategies for Edward Jones
[email protected]