Younger millennials have appetite for risk

Canada’s young millennials have an appetite for taking strategic risk when it comes to investing, according to Bridgehouse Scholarship Program (BSP).

Students across Canada took a quiz, and 60% show risk-tolerant personalities. Meanwhile, 33% have risk-neutral personality scores, while only 7% are risk-averse. Overall, females tend to have more cautious and analytical investment styles than males.

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“The [quiz] has highlighted that I need to be a more responsible and knowledgeable investor,” writes 22-year-old Kristen from Ontario, who is one of the scholarship winners. “After researching and informing myself more about my investments, I have learned that perhaps diversifying my portfolio more would be a smart and logical next step.”

Students between the ages of 16 and 22 applied for the Bridgehouse scholarships by taking an investor personality quiz. The 10 scholarship winners will each be heading back to class this fall owing $2,000 less in tuition costs. Their winning essays can be found at bridgehousescholarship.com/winners.

Also read:

Young Canadians failing to plan, save for retirement

How millennials will spend tax returns

Gen X and Y overlooked by life insurers: EY

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.