The B.C. Securities Commission has launched a new tool to help people determine if they are savers, investors or perhaps both.
The interactive tool — a five-question quiz — was created to help people better understand their finances. It was born from a survey commissioned two years ago by the commission that found most Canadians don’t consider themselves investors, despite the fact many of them actually do invest their money.
The survey found that fewer than a third of Canadians think the term investor applies to them, while even among the two-thirds who do have investments, only 40 per cent would consider themselves investors.
That can be a problem, according to the commission, as those with investments who don’t see themselves that way might not do the kinds of things investors do, such as assessing risk tolerance, developing goals and being aware of the fees they are paying.
The survey can be found online at Investright.org.