[Survey] In 2024, the stock market remains Canadians' favorite investment, ahead of real estate

As a website committed to its users wallet, HelloSafe wanted to know more about investment habits in Canada. A total of 987 people responded to our survey between 15 March and 30 April 2024, from which it appears that the stock market and real estate are the two preferred investment solutions among Canadians in 2024.

46.3% of Canadians consider the stock market as their favorite investment option, ahead of real estate (34.5%) and life insurance (10.1%)
Only 4.1% of the respondents to our survey consider cryptocurrencies as their top investment option
65.3% of Canadians indicated that they manage their investment on their own - only 29.2% use the services of a broker or a bank

Stocks among the preferred investment options for 54.6% of Canadians

In order to find out which investment solutions are preferred by Canadians in 2024, we asked them the question: "What is your favourite investment?", from a list featuring the most popular investment products in Canada. It appears that:

The stock market remains Canadians' preferred investment, favored by 46.3% of respondents.
Real estate comes behind, chosen by 34.5% of respondents as their number 1 investment solution.
Further in the ranking, life insurance (10.1%) and crypto-currencies (4.1%) remain marginal investment options for Canadians.

Almost 2 out of 3 Canadians say they invest by themselves

Our survey shows a strong trend in the way of investing in Canadians: 65.3% of our respondents indicated they make their investments on their own. For those who seek external help to invest their money, they invest either:

Through a broker (18.1%).
Through their bank (for 11.1% of respondents).
On the advice of a friend or relative (5.6%).

Zoom 1: The stock market is an investment preferred by all age groups in Canada

When we look at investment preferences by age group, real differences appear between Canadians depending on each option. With regard to the stock market, we see with the graph below that it is an investment solution that is popular among all age groups of our respondents, despite a fairly low score in for 36-45 year olds:

Zoom 2: Cryptocurrencies are preferred among younger investors

Even if cryptocurrencies appear to be among the preferred investment solutions for only 9.26% of Canadians, we observe important differences between age groups. As the graph below shows, it it not a surprise to see that:

Respondents between 16 and 35 are those who show more enthusiasm for cryptocurrencies - with around 28.5% of them putting cryptocurrencies as within their top 3 investment options
On the other hand, only 0.5% of our 56-year-old or older respondents have put cryptocurrencies within their 3 preferred investment options.

Our methodology

In addition to its expert editorial line around insurance and financial products, HelloSafe explores broader topics relating to global consumption in Canada and around the world. The aim is to decipher certain complex subjects for consumers and to provide everyone with the latest information. It is within this framework that HelloSafe regularly carries out studies on trends relating to current personal finance in Canada.

This study is based on the results of a survey conducted on the HelloSafe site between 15 March and 30 April, 2024, to which 987 people from all over Canada responded. For more information on our editorial line, please click here.

About HelloSafe Canada

HelloSafe is a leading platform for comparing financial products (insurance, credit, investments) in Canada. Powered by its unique and powerful technology, HelloSafe provides users with dozens of free and anonymous comparison tools, calculators and expert, up-to-date content. Its platform empowers users to make the best decisions for their wallets and find the right products at the right prices for them.

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