How is your financial wellness?

November 23rd, 2023

Financial wellness is not a measure of a person’s wealth. It’s about the ways that financial aspects in our life either support or undermine our well-being. Stress over financial issues can affect Canadians of all income levels and age groups.

Measuring financial wellness

A person in a healthy state of financial wellness feels secure about meeting their current financial obligations and is confident their mutual fund investment program is on track to meet their long-term financial goals. They’re able to enjoy life and not worry about discretionary spending; for example, they can take a vacation without losing sleep over its cost.

That’s the ideal. But just about everyone experiences financial anxiety at one time or another. Sometimes it’s caused by external factors, perhaps the markets or inflation. Other times the reason is personal, such as dealing with job loss or significant unexpected expenses.

Why it matters

The Financial Consumer Agency of Canada identifies three pillars of good health. The first two may be obvious – physical and mental health; the third is financial wellness. According to this government agency, stressors in our financial life can negatively impact our physical health, mental health, personal relationships and performance at work. Conditions potentially arising from financial stress include anxiety, depression, sleep disorders and high blood pressure, among many others.

How we can help

From the financial wellness standpoint, mutual fund investors with an advisor have an advantage over those without one. You can contact us whenever you feel anxious about a financial issue. Our help may involve providing market information, discussing specifics of your mutual fund investments, negotiating a life change, ensuring you’re on track to meet your retirement savings goal or any other type of assistance. Whatever the issue, we’re here to help allay your worries and take care of your financial well-being.


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