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Canadians prefer to invest their money in the stock market: Survey

by News Desk
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According to HelloSafe research, the majority of Canadians prefer to invest their money in the stock market.

a Report released last week Respondents were asked to select their top three investment products out of seven options. More than half of respondents (54.6%) preferred to invest their assets in equities, followed by real estate (34.7%) and life insurance (11.6%).

Research shows that all age groups favor the stock market over other investment vehicles.

Canadians aged 56 and over were most likely to favor stocks (60.9%), followed by individuals aged 16-25 (60.1%) and respondents aged 26-35 (58.8%).

This data comes as investors continue to face continued market volatility. As of November 22nd, Canada’s major stock indices are down 5.35% for the year. (Is this year over year?)

TSX reached a high of 22,087.22 on March 29th and a low of 18,206.28 on October 12th.

independent investment

While the majority of Canadians prefer to invest in the stock market, most individuals prefer to make their own investment decisions.

The survey revealed that nearly two-thirds (65.3%) of individuals would prefer to invest without professional help.

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Meanwhile, only 18.1% of respondents invest through brokers, 11.1% invest through banks and 5.6% seek advice from friends and family.

Cryptocurrencies popular with young Canadians

Less than 1 in 10 Canadians (9.26%) cite cryptocurrencies as one of their preferred assets, yet digital currencies remain popular among young investors.

According to the report, 30.1% of individuals aged 16-25 prefer to invest in cryptocurrencies, followed by Canadians aged 26-35 (29.4%).

Older investors are the least likely to invest in digital assets, with just 0.9% saying cryptocurrencies are one of their primary investment options.

Our methodology:

The survey was conducted at HelloSafe sites from September 1 to November 11, 2022 and is based on the results of a survey of 837 respondents from across Canada.

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