Despite feeling optimistic about their long-term financial future, most Canadians are worried about their short-term prospects during the recession, according to a survey by TD Canada Trust.
More than three-quarters of those surveyed by Angus Reid Strategies said they were worried about their finances in the short-term. More than a quarter said they were living paycheque to paycheque and 57% said the economic downturn has had a negative impact on their personal financial situation.
Maintaining one's lifestyle was the top concern among those surveyed, followed by losing money from their investments and concerns over having enough retirement savings.
About 5% of those surveyed said they had recently lost their jobs or been laid off; 11% said they were concerned they will lose their job.
For Canadians more than 50 years of age, the biggest financial concern was losing money from their investments, followed by maintaining their current lifestyle and having enough money to retire. Canadians in their 40s were most concerned about saving enough money to retire.
About 9% of respondents said they have delayed their retirement and can't afford to retire when they originally planned.