Where do clients feel the financial pinch? Our 2009 Dollars & Sense roundtable participants had these comments:
Doug Gleed: The usual stresses are still there with debt, such as the mortgage and credit that have been there for awhile.
James Taylor: They’re thinking about how economic changes might impact them if there are changes in their employment or in the household. A lot of people are questioning where they are, because debt may have risen over the last couple of years and they need cash flow.
Eva Froese: Employment stress is very real here in Calgary. They are also more concerned about their long-term plans, and whether they will be able to afford the retirement lifestyle they had envisioned.
Rob Kochel: Proximity to retirement tends to bring stress levels up. What has been a surprise is the desire among people to work a little bit longer. The reality is hitting them in the face like cold water, they seem to be adapting to it and moving forward.
Kathleen Peace: People are a lot less concerned this fall as opposed to last fall as they see things coming back. The concern is always, ‘How much will I have when I retire?’and ‘How are my government benefits going to fit in with everything?’ I also have clients in the accumulation phase who are very worried about the cost of post-secondary education. That’s been a focus more than usual.
• • •
What financial issues appear to be causing your clients the most stress/concern? That is, what issue are they asking you about the most?
| Issues |
%
|
|
The Economy/The Market Status (NET)
|
39
|
|
Market conditions/market volatility
|
29
|
|
Future of the markets
|
5
|
|
Economic uncertainty
|
4
|
|
Lack of confidence in markets/institutions/advisors
|
3
|
|
Recession
|
1
|
|
Concerned about Investments (NET)
|
21
|
|
Portfolio content/performance/returns
|
8
|
|
Effect market performance has on goals/portfolio
|
5
|
|
Safety of investments/concern over losing money
|
4
|
|
Low rates/want better returns
|
3
|
|
Portfolio risk/risk management
|
2
|
|
When/will portfolios recover
|
1
|
|
Having enough money/savings (NET)
|
19
|
|
Will they have enough for retirement/will it last
|
18
|
|
Cash flow
|
2
|
|
Ability to retire/meeting goals (NET)
|
11
|
|
Retirement planning/how much will they need for retirement
|
9
|
|
Will they be able to meet goals
|
2
|
|
When will be able to retire/possibility of having to work longer
|
1
|
|
Investment strategies
|
4
|
|
Debt/debt load
|
3
|
|
Taxes
|
3
|
• • •