Canadians prefer stocks and real estate for investments in 2024

HelloSafe conducted a survey to understand investment habits in Canada.

The findings reveal that stocks and real estate are the top investment choices for Canadians in 2024.

To identify the preferred investment solutions, respondents were asked, “What is your favourite investment?” from a list of popular investment products in Canada. The results show:

• The stock market is the top choice for 46.3 percent of respondents.
• Real estate is preferred by 34.5 percent of respondents.
• Life insurance (10.1 percent) and cryptocurrencies (4.1 percent) are less popular options.
• Other investment options are chosen by 5 percent of respondents.

Independent Investing

Nearly two-thirds of Canadians prefer to manage their investments independently. Specifically, 65.3 percent of respondents indicated they invest on their own. For those seeking external assistance:

• 18.1 percent invest through a broker.
• 11.1 percent invest through their bank.
• 5.6 percent invest based on advice from friends or relatives.

Age Group Preferences: Stocks and Cryptocurrencies

Investment preferences vary by age group. The stock market is a popular choice across all age groups, although it is less favoured by those aged 36-45. Specifically:

• 57.7 percent of respondents aged 16-25 prefer stocks.
• 58.1 percent of respondents aged 26-35 prefer stocks.
• 42.2 percent of respondents aged 36-45 prefer stocks.
• 52.1 percent of respondents aged 46-55 prefer stocks.
• 66.5 percent of respondents aged 56 or older prefer stocks.

Cryptocurrencies are notably preferred by younger investors. While only 4.1 percent of Canadians overall consider cryptocurrencies among their top investment options, younger respondents show more enthusiasm:

• 29.2 percent of respondents aged 16-25 consider cryptocurrencies among their top three investment choices.
• 27.7 percent of respondents aged 26-35 consider cryptocurrencies among their top three investment choices.
• 14.9 percent of respondents aged 36-45 consider cryptocurrencies among their top three investment choices.
• 8.8 percent of respondents aged 46-55 consider cryptocurrencies among their top three investment choices.
• 0.5 percent of respondents aged 56 or older consider cryptocurrencies among their top three investment choices.