Choosing the right investments for a registered retirement savings plan is more stressful than going to the dentist, but less stressful than asking for a raise or proposing marriage, says a new survey from Royal Bank.
On a scale of one to five – where five means the activity is extremely stressful and one means it’s not stressful at all – asking someone to marry you and writing a final exam had an average score of 3.3.
Making a speech or presentation, or asking for a raise, scored 3.1. But the stress of planning for your financial future scored 2.9, while saving for a comfortable retirement and choosing the right RRSP investments had a 2.8.
Going to the dentist scored 2.6, but making an RRSP contribution scored just 2.1.
“As the final deadline for RRSP contributions approaches, last-minute contributors are not alone when it comes to anxiety about what to do and where to put their money,” said Matt Varey, head of career sales forces at RBC, in a release.
“Choosing the right investments to match your goals is extremely important. Carefully reviewing options with a professional will make the process less gruelling than anticipating a potential root canal.”
The survey findings are the result of an RBC Financial Group/Ipsos-Reid poll conducted between Nov. 4 and Nov. 23. It sampled 1,201 adult Canadians and the results were considered accurate to within 2.8 percentage points, 19 times out of 20.
Financial planning more stressful than seeing dentist: survey
Canadians feel anxiety about where to put their money
- By: IE Staff
- February 21, 2005 October 31, 2019
- 09:50