A new CETFA survey of nearly 8,000 Canadians reveals retirement planning is the most difficult financial decision people face
More than half of Canadians identify retirement planning as their single hardest financial decision, according to new research from the Canadian ETF Association (CETFA).
It highlights a persistent gap between the complexity of long-term investing and the tools available to help Canadians navigate it and that 51 per cent of the general population and 47 per cent of ETF investors named retirement planning as their most difficult financial challenge.
The survey, conducted by SAGO in July 2026 and drawing responses from 7,945 Canadians weighted to census demographics, suggests a growing need for structured financial guidance and renewed calls for policy action.
"Canadians are telling us that retirement planning is one of the most difficult financial decisions they face," said Eli Yufest, executive director of the Canadian ETF Association, in a statement accompanying the findings.
Financial literacy takes centre stage
The research arrives at a moment when ETF adoption is rising across Canada but knowledge gaps among investors remain stubbornly wide. CETFA's July findings add a new dimension with even among those who already own ETFs finding that the retirement planning challenge is acute.
Across all respondents, 77 per cent said they support making financial literacy a mandatory subject in Canadian schools. That figure climbs to 86 per cent among ETF owners, suggesting that those with direct experience investing are among the strongest advocates for improving financial education at the foundational level.
The data underscores what many advisors already observe in practice: clients arrive without the tools to make confident long-term decisions, and the cost of that gap compounds over time.
Investment behaviour and regret
The survey also examined what Canadians would do with an unexpected windfall.
Asked how they would handle a surprise $10,000, 30 per cent of the general population said they would invest it. Among ETF investors, that figure rose to 50 per cent.
Regret was another revealing thread running through the results. Nearly half of all Canadians (45 per cent) said they wished they had started investing sooner, a sentiment shared by 52 per cent of ETF investors.
What this means for advisors
The CETFA data adds weight to the broader argument that retirement readiness is a system-level challenge.
With just 17 per cent of ETF owners identifying their fund selection process as their second-hardest financial decision, the research suggests that once Canadians are in the investment ecosystem, product navigation becomes more manageable. The harder task is helping clients get there and stay engaged through the retirement planning process.
The results align with what FP Canada and the Institut québécois de planification financière have been signalling through updated assumptions guidance in 2026: that return projections and planning frameworks are shifting, and so must the conversations advisors have with clients about what retirement will realistically cost and require.
CETFA has called on policymakers to develop practical tools and clearer information about investment vehicles including ETFs, to help Canadians save and invest more effectively for retirement.
