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Young investors disclose long-term financial goals

The study revealed that 85% of investments are made to achieve long-term financial objectives. Eighty-six percent believe that DIY investing is an important component of their long-term financial security; Two-fifths (39%) believe investing will help them achieve their goals now and in the future, and one-fifth (20%) say they know what they want when it comes to investing. What are you doing.

“When so many young Canadians joined the ranks of self-directed investors, there were so many misconceptions behind them,” said Lori Darlington, president and CEO of RBC Direct Investing. “Their reaction to our poll shows that they are not all jumping in and out of the market, looking for immediate gains – they are investing for the long term.

According to Darlington, during the pandemic, nearly half of the new clients joining RBC’s online brokerage were under the age of 35. “We expect this generational shift to continue, as more young people seek to control their financial future.”

People want to be in charge of their financial destiny. Of the young DIY investors polled, 77% enjoyed the challenge of doing research and 87% acted on what they learned. He also referred to his self-directed investments as an important aspect of his long-term financial objectives (87%) and future financial security (86%).

“We were also encouraged to see how many of these young adults want to learn more about investing,” Darlington said, noting that RBC’s online brokerage is looking for both new and more in-depth, third-party research. and provides comprehensive resources including analysis. Experienced Investor.

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