Pattie Lovett-Reid

Chief Financial Commentator, CTV

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From Brexit to the Trump, victory has been marked by an unpredictable turn of events -- and for many Canadians, the uncertainty and market swings may be creating a sense of pessimism over their financial future.

A new study by Mackenzie Investments asked Canadians about their outlook for the next 10 years and found 39 per cent feel they will have to cut back on the current lifestyle. So is it Trump or a trend? A decade ago, their same study found that 37 per cent said they wouldn't be able to afford their lifestyle in 2017. 

Their study also found:

• General pessimism persists: 23% blame in inflation while about the same blame lack of savings
• Lack of investment confidence: 23% overwhelmed about their retirement options and 20% find their options confusing
• Less than 35% believe they are on track to meet their retirement goals
• 72% don't have a written financial plan 

Given that Canadians are making accurate predictions about their future lifestyle, they likely have a pretty good idea about their finances, but more importantly, if you had a financial plan you might be able to live well and retire well.