Canucks Prefer Talking About Embarrassing Issues over Investing
Toronto, Ontario–(Newsfile Corp. – June 21, 2021) – As the country weathers an unprecedented pandemic, Canadian investors are also rising to meet unexpected challenges and opportunities. However, they may be making investment decisions (mostly) alone. New data shows that Canadians remain unlikely to discuss investments with friends and family. As uncovered in a new national survey (commissioned by Sharechest™ Inc. and conducted among members of the online Angus Reid Forum), 75% of Canadians think it’s simply rude to ask others about their investments and finances.
A) Rudeness Rankings:
To understand why Canadians clam up when talking about investments, Sharechest™ Inc. surveyed specifically what information Canadians thought was ‘rude’ to ask.
Nationally, 75% found at least one of Sharechest™ Inc.’s financial/investment questions to be rude:
- 71% think it’s rude to ask how much money someone makes.
- 23% think it’s rude to ask what someone invests in.
- 13% think it’s rude to ask what investment platforms someone uses.
- 13% said it’s rude to ask if someone uses a financial advisor.
“It really doesn’t seem possible to change the conversation about Canadian investing until we can bring ourselves to have an actual conversation about it,” said Chad Williams, the proudly Canadian Chairman and Founder of Sharechest™ Inc. “Let’s all stop being so clammed up and stereotypically ‘Canadian’ about investing and share some information with our friends and family, so we can all make better and informed investment decisions.”
B) Key findings of the survey:
1) English and French Canadians are split on spilling investment information:
- Nearly twice as many (40%) French-speaking Canadians DON’T think it’s rude to ask questions about money and investing, compared to only 22% of English-speaking Canadians.
2) ‘Taboo topics’ trump investment talk:
- When presented with a list of potentially sensitive topics to discuss with friends and family, Canadians appear most uncomfortable disclosing embarrassing health issues (31%) or conflicts with their romantic partner (32%). However, more Canadians actually say they’d be most uncomfortable discussing their investments (15%) than those who say the same of politics (12%) or religion (10%).
3) A significant number of ‘significant others’ AREN’T talking about investments:
- Asked who they actually do discuss money or investing with, only 66% said ‘with their spouse/partner or significant other,’ meaning that a third of Canadians (34%) aren’t having that conversation.
4) Men are far more open about money/investments:
- 70% of men say that they would discuss financial info with a friend, compared to only 58% of women.
- Men are also significantly more likely than women (30% vs. 22%) to say it’s not rude to ask someone about their finances or investments.
“With more and more Canadians choosing to manage their own investments, Sharechest™ is on a mission to completely change with how investors think, act and interact with companies and platforms,” added Williams. “Certainly, the first step is getting over our aversion to open investment discussions. The most important part is having new, easier, painless and sustainable ways for Canadians to find investment opportunities that also enable companies to find new and easier ways to attract financing.”
Additional findings of the survey:
Younger Canadians are a lot more open about investments
- 84% of younger Canadians (18-34 years-old) say they would disclose financial information to friends, vs.
- 69% of those 35-54 and 43% of those 55-and-older.
Many parents aren’t passing on their investment plans:
- Fewer than half (41%) of Canadians say their parents openly discuss their investments.
- 20% of Canadians say they would not ask their parents about investments they hold.
Friends and finance:
- Two-in-five (42%) Canadians say they are open about finances with their friends when it comes to salary but are less likely to disclose a bonus (25%) or their net worth (23%).
Please refer to this as a Sharechest™ Inc. study in ALL media coverage.
About Sharechest™ Inc.
Sharechest™ has assembled a unique set of tools to help companies target, engage, and connect with Investors. Their flagship product, the Connector, allows companies to build a community of investors directly on their own websites. Paired with the Dashboard, companies can manage all leads effectively and gain meaningful insights on investor networks. Investors can quickly and easily connect with companies seeking financing.
About the Survey
These are the findings of a study/survey conducted by Sharechest™ Inc. from March 24th to March 25th, 2021 with a sample of 1,514 online Canadians, who are members of the Angus Reid Forum. The survey was conducted in English and French.
About Angus Reid Forum surveys:
The precision of Angus Reid Forum online polls is measured using a credibility interval. In this case, the poll is accurate to within +/-2.5 percentage points, 19 times out of 20. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.
About the Angus Reid Forum:
The Angus Reid Forum is Canada’s most well-known and trusted online public opinion community consisting of engaged residents across the country who answer surveys on topical issues that matter to all Canadians.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/88102