Most investors in Quebec favour traditional investment vehicles, according to a survey conducted by Universitas Trust Funds.
The results show over the past year nearly three-fourths of Quebec’s population (74%) opted for RRSPs (37%) and TFSAs (36%). Over a third of the respondents did not invest at all (37%); this is particularly true of women (42% versus 32% for men).
Other investment vehicles, such as RESPs, real estate investments and equity holdings, only represented a small percentage (8% each).
Average amounts invested by Quebec residents in the main types of savings vehicles:
- RRSP: $3,042
- TFSA: $3,456
- RESP: $1,601
Other highlights of the survey include:
- The TFSA gains in popularity among respondents aged 55 or older. Over the last year, nearly 46% of these respondents opted for them
- Nearly half respondents aged 35-54 continued to invest in RRSPs this year (47%);
- Only 19% of respondents knew it is now possible to invest up to $5,500 in an TFSA every year (whereas 36% believe that the limit is still set at $5,000);
- Francophones generally invested less over the past year than non-Francophone respondents (27% versus 40%)
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