Canadians across the generations have one thing in common when it comes to money: angst.

An Investor Education Fund (IEF) report, Insights on Canadians and online investor education, reveals that as the financial priorities of Canadians change over a lifetime, so do their sources of investing angst.

And different generations face different challenges:

Under 30: lack of knowledge. Respondents under 30 are more likely to say they don’t understand most of the terms used by financial advisors and experts (64% versus 49% across all ages).

30s and 40s: lack of time. Respondents in their core working years are more likely to say they don’t have enough time to focus on their investments (57% versus 45% overall).

50 and older: lack of trust. Respondents age 50 and older say their top barriers are conflicting information from too many sources and not knowing what to believe (40%) and being unsure about where to find unbiased information about investing (36%).

Overall, the top barriers to investing confidence include too much conflicting information (53%), a lack of investing knowledge (49%) and an inability to find an unbiased source of investment knowledge (46%).

“These results tell us that Canadians who come to our website are overwhelmed about investing and struggle to get the information they need from other sources,” says IEF president Tom Hamza. “The good news is that taking the time to learn more—even in small steps—can make a big difference in your confidence and your ability to meet long-term financial goals.”

Related articles:

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

Join us on Twitter

Add a comment

Have your say on this topic! Comments that are thought to be disrespectful or offensive may be removed by our Benefits Canada admins. Thanks!

* These fields are required.
Field required
Field required
Field required