EP291 Canadian Investor Confidence with Co-operators

Jessica Baker, Vice President of Advisor Alliance at Co-operators, joins the show today to shed light on a recent survey that highlights the lack of investing confidence among young Canadians. The survey reveals some key findings that are particularly relevant to young people, showcasing notable differences in their approach compared to their parents and grandparents. The results highlight that 74% of young Canadians lack confidence in their ability to choose investments and are hesitant to seek financial advice from professionals. Many respondents expressed concerns about their financial habits and uncertainty about their future success.

Jessica shares valuable tips for those unsure about where to start with their finances. She emphasizes the importance of not relying solely on social media for financial advice and encourages starting investments early and maintaining consistency. Listen in as she reminds young Canadians that they have the right to seek financial guidance. 

“Not very many young Canadians are working with a financial advisor. A significant number of respondents lack confidence in their habits and they’re very concerned about whether or not they’re set up for success in their financial future.” – Jessica Baker

This Week on Young Money:

• What the survey was trying to find out.
• How young Canadians are feeling about investing.
• Young Canadian’s level of confidence in their financial futures.
• How to create wealth if not from home ownership.
• Why so many young people struggle to know what to do with their finances.

Key takeaways:

1. Don’t believe everything you see on social media.
2. Start investing early.
3. Consistency is key in investing.
4. You have the right to financial advice.

Resources Mentioned:

• Mutual Fund Disclosure

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