Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeInvestorWealthSmart Money‘Financial nihilism' is pushing many gen Z Canadians to adopt risky investing, with worrying consequencesOpinion: Given the economic constraints younger people face, these 'YOLO' and 'vibes-based' strategies could be absurdly rationalLast updated Mar 12, 2026 You can save this article by registering for free here. Or sign-in if you have an account.Over the past two decades the share of people aged 18-24 investing in securities has more than doubled. Photo by Getty Images/iStockphotoGood news: Data suggest that young Canadians are more financially engaged than prior generations. For instance, according to data from the British Columbia Securities Commission (BCSC), over the past two decades the share of people aged 18-24 investing in securities has more than doubled.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorThe bad news, however, is that this rising interest among generation Z in investing isn’t expressed by disciplined long-term strategies such as purchasing low-risk mutual funds to build a healthy retirement portfolio, or other traditional financial advice, but increasingly by way of high-risk trading strategies to try and grow portfolios quickly and aggressively, according to the BCSC.And this rise of financial engagement isn’t a result of an increase in disposable income. Gen Z doesn’t have any. They’re just surviving, according to several recent surveys. Many younger Canadians believe retirement planning will be more difficult than it was for their parents, according to a recent poll by the Bank of Montreal.Canada's best source for investing news, analysis and insight.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Investor will soon be in your inbox.We encountered an issue signing you up. Please try againInstead, the increasing prevalence of high-risk investment strategies is a symptom of a worrying rise of “financial nihilism” among young adults.Financial nihilism, a term attributed to podcaster Demetri Kofinas, is a philosophy that forgoes long-term financial security in favour of near-term consumption and high-risk investments such as meme stocks and cryptocurrencies.This philosophy can be seen in spending patterns, as younger Canadians, more pessimistic about their economic prospects, increasingly favour splurging on small luxuries such as travel, as opposed to saving for a down payment or retirement. This so called “doom spending” helped fuel the 30 per cent rise in gen Z consumer debt — more than any other age bracket.In the realm of investing, this means that younger generations are more likely to be involved in speculative crypto investments, “vibes” based investment strategies, and high-risk “YOLO” (you only live once) trades, putting a significant portion of their capital on a single, risky investment in the hope of a substantial return.At the same time, young Canadians are now relying less on professional financial advisors, and increasingly managing their investments themselves, preferring social media and online sources for information and guidance.And while financial experts might view these investment strategies as short-sighted and irresponsible, for many this behaviour could be viewed as absurdly rational.As wage growth decouples from cost of living, youth unemployment rates skyrocket, and young people give up on ever owning a home, starting a family or retiring by following traditional financial advice, it should come as no surprise that younger Canadians are open to financially risky behaviour.Housing costs remain far above historical averages. The mortgage payment on a representative home in Canada in the fourth quarter was more than 50 per cent of median household incomes — well above the long-term average of 40.5 per cent, according to National Bank of Canada.In the choice between forever renting and economic precarity or a high-risk trade that could help with a down payment, treating investments like a roulette table doesn’t seem so ridiculous.Unsurprisingly, these financial strategies are unlikely to pay off and as the high cost of living incentivizes younger generations to make risky financial decisions the consequences have been predictable.Desperate for returns, young adults are now more likely than seniors to lose money to investment fraud, with social media and cryptocurrency at the heart of many of these scams.And just as gambling addicts chase losses, young investors are more likely to trade more to win back what they have lost or find they cannot reduce or quit trading, compared with those older than 65, according to the BCSC study.While young Canadians are already more concerned about their finances compared with the rest of the population, an alarming 79 per cent of gen Z investors expressed anxiety regarding their investments in a poll by the Canadian Imperial Bank of Commerce.While many experts blame the ease of access to trading due to the rise of mobile trading platforms, the lack of regulation on crypto investments and predatory social media “finfluencers” as the main culprits encouraging this behaviour, it is increasingly clear that the underlying cause is more structural.As traditional methods of wealth building remain out of reach for younger generations, we can’t blame ignorance or naivete for the rise of risky financial strategies.If, increasingly, the only way to get ahead is by a “vibe-based YOLO trade,” or by putting all your money into an esoteric crypto coin, don’t be surprised when young Canadians do just that.Danny Parys is a strategy and governance consultant based in Montreal. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.