The Ontario securities regulator found that while 4 in 5 of the province’s 18-36 year olds are saving, only half are investing.
Those savings are likely to be for mortgage downpayments for many millennials, with the poll revealing that owning a home is in the top three financial priorities of more than half of millennial Ontarian non-homeowners. One in three already own their home.
The OSC is hoping to persuade more young people in Ontario to invest, whether in securities or real estate.
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Homeownership is viewed as a bigger priority than investing according to an OSC study.