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Over half of Canadians say they have not set goals for 2021

T.SLF | December 17, 2020

'Let's get you there.' – Sun Life empowers Canadians to achieve financial, physical and mental health goals

TORONTO , Dec. 17, 2020 /CNW/ - 'New Year. New me' - Is a popular saying Canadians use when they think about changing behaviours and setting goals to start the New Year. This year has tested Canadians' physical, mental and financial health in many ways. As we welcome 2021, are Canadians making resolutions for the year ahead? A recent Sun Life survey tells us Canadians are not goal setting with 57 per cent having set zero goals for 2021.

Physical distancing from loved ones, working from home and finding new ways to stay active, the list goes on. Canadians have had to re-invent their routines and traditions repeatedly. Of the 43 per cent who have set goals for 2021, only 26 per cent have set financial goals, 25 per cent have set physical health goals and 23 per cent have set mental health goals.

"We are living and working through the most significant health crisis of our lifetime," said Rowena Chan , President, Sun Life Financial Distributors ( Canada ) Inc. and SVP, Distribution. "This year has tested our physical, mental and financial limits – setting new goals could feel overwhelming for many Canadians. A great first step to feeling at ease about physical, mental and financial health is creating a plan and leaning on experts. Sun Life's network of advisors can help Canadians navigate these uncertain times and create achievable goals for the year ahead," Ms. Chan added.

Let's get you there. Holistic solutions to help realize your goals
Since the pandemic began, younger Canadians have demonstrated the greatest financial and mental health concerns. Fifty per cent of those aged 18-34 report feeling less financially secure and 68 per cent report their mental health being negatively affected.

When it comes to goal setting for the New Year, those aged 18-34 are most likely to have set at least one financial goal (38%) compared to 26 per cent of those aged 35-54 and 16 per cent of those 55 years and older. Younger Canadians are also most likely to set physical and mental health goals at 36 per cent and 42 per cent, respectively.

Acknowledging the value of advice, a growing number of those aged 18-34, are seeking support through an advisor (18%), up from 6 per cent in July. Whether Canadians are interested in protecting themselves and loved ones through insurance, needing to connect with a health care practitioner or trying to build up savings, a Sun Life advisor can offer health, wealth and protection advice – and help turn that advice into action at any age.

"Sitting down with an advisor and discussing goals is the first step in achieving lifetime financial security and living a healthier life," said Angie MacLean , Sun Life advisor. "My role as an advisor is so much more than just financial planning; I take a holistic approach to understand my Clients' needs and what is most important to them. Whether Canadians' goals are big or small, an advisor can set Clients on the right track to achieving them and help turn dreams into reality."

In 2020, Sun Life launched the Advice for Life video series highlighting the value of advice an advisor can bring to Clients. Sun Life's national brand campaign ' Let's get you there .' focuses on helping empower Canadians to achieve their financial, physical and mental health goals.

About the survey
The survey is based on findings of an Ipsos poll conducted between November 12-15, 2020 . A sample of 1,000 Canadians was drawn from the Ipsos I-Say online panel aged 18 and older. The data for Canadians surveyed was weighted to ensure the sample's regional, age, and gender composition reflects that of the actual Canadian population. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within +/- 3.5% at 95% confidence level had all Canadian adults been polled. All sample surveys and polls may be subject to other sources of error, including, but not limited to methodological change, coverage error and measurement error.

About Sun Life
Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life has operations in a number of markets worldwide, including Canada , the United States , the United Kingdom , Ireland , Hong Kong , the Philippines , Japan , Indonesia , India , China , Australia , Singapore , Vietnam , Malaysia and Bermuda . As of September 30, 2020 , Sun Life had total assets under management of $1,186 billion . For more information, please visit www.sunlife.com .