Financial Literacy Month: Why Planning Brings Peace of Mind

November is financial literacy month, and as advisors, we continue to educate our clients. It’s crucial to understand what’s most important to our clients so we can continue to help and provide the best advice possible. 

CPP Investments Canada publishes an annual survey that asks Canadians about their finances, and I wanted to share some insights. The survey was conducted by Innovative research group from Aug 25-Sept 4 2025, with a sample of 5183 Canadians age 18 years or older. 

Running out of money?

6 out of 10 Canadians say they are afraid of running out of money during retirement. This is an alarming number, but there is hope.  The counter wave to this tsunami of fear is that among non-retirees, 52% said having a financial plan was the top reason they are not afraid of running out of retirement money.  Financial planning not only provides a roadmap and plan but gives emotional comfort and peace of mind that things will be ok.  I know this to be true through experience, as many clients have felt better after reviewing their plan in detail. It’s a great feeling to know we can help people feel better. 

Personal Relationships

Personal relationships play an important role in shaping financial confidence. This comes as no surprise as it’s all about relationships and building trust. The more we can understand what our clients’ most important goals and dreams are, the better we’re able to help. To understand means to communicate clearly, ask good questions, and listen well.  

Canada Pension Plan 

73% of Canadians plan or do rely on CPP for part of their retirement income. We’ve often worked with clients to help them understand more about the CPP; but also, to ensure that they have other sources of retirement income and are not completely dependent on government benefits.   Have you reviewed your finances lately? If not, it may a great opportunity for a financial checkup, conversation or to simply touch base to discuss what’s important to you.

Tax Planning

Tax planning can be also complex and hard to understand, because everyone's situation is unique. Below, we look at different financial situations and how we'd suggest each person proceed to get the most favorable result.

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