Canadians prefer to invest their money in the stock market, according to a new survey.
A poll by product comparison website HelloSafe asked Canadians to choose their top three investment products out of seven options. It found that more than half of people (54.6%) prefer to put their money in stocks, followed by real estate (34.7%), and life insurance (11.6%).
Canadians 56 and over were the most likely to put money into stocks (60.9%), followed by individuals between the ages of 16 to 25 (60.1%) and people aged 26 to 35 (58.8%).
This data comes as investors grapple with a market downturn. The Toronto Stock Exchange has declined 5.35% this year.
The survey also found that most Canadians prefer to make their own investing decisions. Almost two-thirds (65.3%) of people say they prefer to invest without the help of an advisor or “financial expert.”
The survey was conducted on the HelloSafe website between September 1 and November 11 and includes responses from 837 people across Canada.