As uncertainty about economic recovery lingers, a new survey reveals that 52% of Canadians are not comfortable with their current financial situation and 53% feel insufficient knowledge about investing is their top wealth-building barrier.

The survey, released by real estate and investing training services firm Tigrent Inc., examined over 3,000 British, American and Canadian attitudes, definitions and self-limiting beliefs towards financial freedom and reinvention. It was conducted for Tigrent by Opinion Research Corp. from October 19 to 21.

In the survey, 77% of Canadians said they were ready to make sacrifices in the short run to accumulate enough wealth for a more secure tomorrow. Generation Y Canadians (aged 18-24) led the charge in this category at 88%. Separated, divorced or widowed Canadians were least open to making immediate changes at 67%.

“At a time when so many people are facing unprecedented economic challenges, the optimism we saw across all borders was heartening,” says Paul Gallagher, managing director, Tigrent Learning Canada Inc. “Wealth-building skills can be learned, and Canadians, especially our younger generations such as the Gen Y seem to have an invigorated vision for their financial future.”

A full 61% of Canadian respondents say that in light of the global financial crisis, they need to re-invent themselves to enhance earning power.

When asked how they would develop their wealth building skills, well over one-third (39%) of all respondents and half of those aged 18 to 34 (50.5%) said they would be willing to make an investment in their future and pay for training to become an entrepreneur, real estate investor or to launch a home-based business.

IE