Invest or keep money in cash? 41% of young Canadians opt for latter in TFSA

The financial habits of young Canadians are shifting, as a recent survey indicates that 41% of Gen Z and millennials using Tax-Free Savings Accounts (TFSAs) choose to keep their money in cash rather than investing it. This preference for liquidity suggests a cautious approach to financial management, where immediate access to funds is prioritized over potential long-term gains. This trend is significant as it may reflect broader economic anxieties and a desire for financial security among younger generations, who are navigating a complex economic landscape marked by uncertainty.