The majority of young people in Nova Scotia aren’t investing and have little knowledge about investing. In the latest Investor Index study conducted in 2017, it was found that only 36 per cent of those polled between the age of 18 and 24 had some form of investments. Even more troubling, the Index also found that 67 percent of those polled between 18 and 24 had a low knowledge of investments. Additonally, only six per cent had a high knowledge.
Having a low knowledge of investments and finances in general can be the beginning of a difficult financial path that could include poor money management, poorly managed investing or even falling victim tp investment fraud. Luckily, we’re here to help.
This page includes information on investing that young investors can use to gain a basic knowledge of investments to help assist is making informed investment decisions now and in the future. This includes information on what investing is and why it is important. The different types of basic investments and a primer on cryptocurrencies and initial coin offerings. We also delve into saving for post-secondary education, long-term and short-term investment savings, and advisers and robo-advisers.
Part One: What is investing?
Part Two: Why should I invest?
Part Three: All about RESPs
Why should I invest? What is investing anyway? If you’re looking for the basics on investing and why it is important for your future and financial goals you’ll find it here.
Now that you know what investing is and why it is important, where can you invest? This section plainly details some of the investments that are available to you.
Cryptocurrencies and Initial Coin Offerings are hot topics these days. Some people see them as the next big investment, while other sees them as risky speculation. From a regulation standpoint are they securities? Are they regulated and what are the risks? Learn more about crypto and ICOs and why you should be extremely cautious when considering them.
- What is a cryptocurrency exchange?
- The risks of cryptocurrencies and ICOs
- Is an ICO a security?
- Do ICOs have disclosure requirements?
Are you saving for university or college? Maybe you’re a parent of a newborn child or an older child wondering what your investment options are for their post-secondary education future.
- What is a Registered Education Savings Plan (RESP)?
- What happens to a RESP if I don’t go to university or college?
If you’re new to investing how are you going to manage your investments? Maybe you’ll find an investment adviser. Maybe you’ll go a different route and choose a robo-adviser to manage your funds. Learn what a registered adviser is, and why registration is important in the links below. You should also learn what a robo-adviser is to know what the best option is for you and your money.
- What is a registered adviser?
- Why do I need an adviser?
- How do I find an adviser that’s right for me?
- What is a robo-adviser?
- Are robo-advisers registered?
What are you investing for? School? A car or some other large purchase in the future? Maybe you’ve already started to save for retirement. Knowing the difference between RRSP and TFSA accounts can help you direct your money and your savings correctly so it will be there and available when you need it.
- What is the difference between RRSP and TFSA investment accounts?
- Are RRSPs securities?
- What are the age limitations on RRSPs and TFSAs?
(Updated September, 2020)
The Nova Scotia Securities Commission continues to have a problem connecting with young investors. The 2016 CSA Investor Education Study found that only 36 per cent of respondents knew there was a provincial regulator that regulated securities. From those surveyed between the ages of 18 and 24 that number was even lower at only 29 per cent.
Students exiting post-secondary education are entering a new phase in their life with careers, money and a future ahead of them. This future could include a family, their first home, cars, and saving for their children’s education and their own retirement. As life becomes real the need to invest also becomes real. But, why do they need to wait to learn about investing? Why can’t a basis of basic investment knowledge be gained before it is time to use it instead of catching up on it later in life?
Last year during our third year delivering the program, Nova Scotia Securities Commission visited more schools and talked to more students than ever before. We delivered presentations on securities and informed investing to students across Nova Scotia. Just a few of the schools we met with in 2019-20 included Saint Mary’s University, Acadia University, Cape Breton University, NSCC Ivany Campus, Prince Andrew High School and Charles P. Allen High School. This year we hope to continue expand our reach into more schools and more youth organizations.
We know due to COVID-19 the 2020-21 school year may look very different. Many universities in the province are taking their classes online. The Commission is ready to adapt to these changes to continue to reach students. We have been delivering some of our presentations online to classes on opposite ends of the province since the program began. If you are interested in having the Commission talk to your class but are not allowed visitors, or tou do not have a physical classroom right now, we can connect virtually, and look forward to discussing the best way to make this possible.
Investment information can be delivered to groups through presentations on several different topics, including but not limited to, An Introduction to the Nova Scotia Securities Commission, Informed Investing, and Securities Regulation. We are also able to present on more concise topics such as CEDIFs, Crowdfunding and Investment Fraud and Scams.
If you are interested in one of these presentations or would like more information on what the Nova Scotia Securities Commission Student Connections program can offer you, your class, group or organization, please contact us.