Young investors in Canada are stepping up to the plate by proving that they have long-term investment goals.
Adults 18 to 34 are entering the world of self-directed investing and nearly 48 per cent of young investors started during the pandemic, according to a 2022 RBC survey of 529 people in this age category.
Lori Darlington, president and CEO of RBC Direct Investing, told Black Press Media that people in this age category aren’t looking for instant gains – they’re investing for the long term.
The poll also showed that 77 per cent of the young adults surveyed take time before making financial decisions.
Darlington said that she was pleased to see that 85 per cent of respondents are aiming to reach long term financial goals, while 39 per cent view investing as a way to support what they want now and in the future.
Young investors are seeking clearer information and better tools to invest, save, budget and manage day-to-day expenses – all while saving for the future and navigating challenging markets.
“I would encourage them to leverage all of the different tools available to them,” said Darlington.“If today’s young investors can teach all those how-to tips to the generation which follows them, they’ll be setting that next-generation up early for financial success.”
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