When it comes to investing, Canadians have clear preferences for where they put their money.
A new report from HelloSafe, an international online insurance policy comparison platform, highlights results from its survey that aimed to find out more about the investment habits of Canadians.
According to the survey results, most respondents (46.35%) said the stock market was their preferred source of investment.
Real estate was in second place with 34.5% of survey takers saying this was their favourite investment.
Only 10% said they preferred investing in life insurance, followed by 4.1% who said they put their money into cryptocurrencies.
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HelloSafe also asked Canadian survey takers if they got any help with their investments, but the overwhelming majority (65.3%) of respondents said they preferred to invest on their own.
Just over 18% said they invested through a broker, and 11.1% said they did so through their bank.
A small percentage of respondents (5.56%) said they followed their relative’s investing advice.
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When it comes to the stock market, it appears that Canadians of all ages are interested in the investment solution.
HelloSafe found that while those 56 and older were most likely to say the stock market was their top preferred investment product, it is also very popular among younger Canadians.
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However, investing in cryptocurrency was favoured by younger Canadians between 16 and 35.
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HelloSafe conducted its survey between March 15 and April 30, 2024, and collected 987 online responses from Canadians nationwide.