The opinions expressed in this report are the opinions of the author and readers should not assume they reflect the opinions or recommendations of Richardson GMP Limited or its affiliates. Assumptions, opinions and estimates constitute the author’s judgment as of the date of this material and are subject to change without notice. We do not warrant the completeness or accuracy of this material, and it should not be relied upon as such. Before acting on any recommendation, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. Past performance is not indicative of future results. Insurance services are offered through Richardson GMP Insurance Services Limited in BC, AB, SK, MB, NWT, ON, QC, NB, NS, NL and PEI. Additional administrative support and policy management are provided by PPI Partners. Insurance products are not covered by the Canadian Investor Protection Fund. Richardson GMP Limited, Member Canadian Investor Protection Fund. Richardson and GMP are registered trademarks of their respective owners used under license by Richardson GMP Limited.
We are aware of the impact that COVID-19 has had on our personal finances. According to a survey carried out in April for Payments Canada (including 1,504 Canadians), 44% of the respondents declared that they experienced a drop in income while 51% reported that their retirement savings and investments were negatively impacted. However, these adverse consequences have not affected everyone in the same way: the age group respondents belonged to impacted how they experienced the crisis. The following are some concerns that were expressed depending on the stage of life.
