The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
The number of Canadians who plan to contribute more to their RRSP has increased according to a national survey sponsored by Investors Group. The survey found that 29 per cent of Canadians say they plan to contribute more to their RRSP this year than last year. A similar survey last year reported that 24 per cent planned to contribute more. The survey also found that the vast majority of Canadians do not appreciate the strong performance already achieved by the market in 2003. Two-thirds of those who responded to the survey either didn't know, or thought the market had stayed flat or declined. Only 36 per cent of respondents correctly knew that the market had gone up in the first eight months of the year. "Canadians' rising confidence and enthusiasm for saving and investing is very encouraging," said Debbie Ammeter, Investors Group Vice-President of Advanced Financial Planning. "Stronger financial markets are always good news for investors, but a financial plan focused on long-term objectives remains essential. At this point it appears Canadians' instincts are good but their knowledge could be better." In fact, Canadian RRSP investors who were aware of the recent growth in financial markets are also more confident about market growth in the coming year.