A survey conducted by ATB Investor Services shows that, despite a flagging local economy and volatility in the stock markets, only 10% of Albertans feel now is a bad time to invest or add to their savings.
The ATB survey found that Albertans remain optimistic about the stock markets; 95% of men and 94% of women feel investing and/or saving in the next three to six months will be better or the same as it is now.
However, 42% of respondents indicated that they have felt the negative effects of lower oil prices. Of these people, 18% say that circumstances due to the decline in energy prices have forced them to stop making regular contributions to their savings and investments while 17% have had to withdraw some of their long-term savings.
"Since we conducted the survey in July, the markets have shown increasing volatility, which has been based more on emotion than on economic fundamentals," says ATB Investor Services president Chris Turchansky. "We've been encouraging our clients to stay the course with their long-term investment plan and not push the panic button. Albertans are being patient and that's always the best strategy in times like these."