According to the report, most households seeking to cash out were of lower and middle incomes.
Along generations, the results varied as well. The report discovered that investors’ confidence in the market’s ability to turn bullish once more decreases with age. In addition, younger investors had greater assurance that, whatever the state of the economy right now, they would turn a profit in 2022.
On the other hand, baby boomers were more likely to want to cash out because they were less confident in their ability to meet or exceed their annual investment return projections. Older investors may also be considering retirement withdrawals in this scenario.
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Buy and hold (41%), income investing (9%), and index and a few select holdings (7%) were the top three investing strategies preferred by Canadians who intend to stay in the market and ride through the downturn.
