The Way To Connect With Direct Selling Industry

The Way To Connect With Direct Selling Industry

The Income Of Canadians Is Not Keeping Up With The Cost Of Living, According To A Primerica Study

Primerica Canada recently conducted a survey of 837 Canadians with incomes ranging from $30,000 to $100,000, finding that 75% thought their income was insufficient to pay their living expenses. Despite the fact that 71% of those polled did not feel they were saving enough for a decent retirement, respondents were generally positive about their personal finances.

“I am astounded by Canadians’ perseverance in the face of difficult economic conditions,” said Primerica Canada CEO John A. Adams.
“According to our research, over one-third of families have improved their financial condition in the last year, and over half believe they will be better off in a year than they are now. However, we realize that many families are struggling financially. Primerica personnel are ready to provide customers with the information and tools they need to establish a more secure financial future, regardless of their situation.”

The following are some of the study’s key findings:

• 40% of 18–34-year-olds and 28% of those aged 65 and over think they are better off financially now than they were last year.
• 42% of families claim they don’t have $1,000 or more emergency savings.
• 69 percent of families have a savings account, 34% have a job-provided life insurance policy, and 33% have a life insurance policy acquired outside of work.
• Saving for retirement is a major issue for 34% of respondents while paying rent or mortgage payments is a major issue for 29%.
• In the past year, 26% of families have increased their savings, and 19% have formed and adhered to a budget.

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