42% of Canadians unsure they can weather volatility: poll

About two-in-five Canadians are unsure they’re prepared for market volatility, says a survey commissioned by Edward Jones.

Of the respondents, 42% said they weren’t sure they could withstand market volatility and 22% said they felt “very confident” they are prepared.

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Those aged 18 to 34 appeared more positive than those over 35, with 27% saying they felt very confident no matter what the markets bring.

Just 17% of respondents aged 35 to 54 expressed confidence about market volatility. For those older than 55, 23% reported they were prepared to face unstable markets.

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“No one can really predict when a downturn will end or the markets will rally, but you don’t want to be on the investment sidelines when they do,” Patrick French, principal of client financial strategies with Edward Jones, says in a statement. “The biggest gains can occur in the early stages of an upward trend and if you’re not investing or paying attention to your portfolio it could begin to stagnate or become unbalanced.”

The poll was of 1,007 adults surveyed online from February 17 to 18.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.