Young investors should stay invested amid uncertainty: Wealthsimple CEO

Amid economic volatility, young investors should continue to be disciplined by sticking to their investment plan and remaining in the market, according to the co-founder and chief executive officer of Wealthsimple Inc.

The current economic situation marks the first major drawdown that many new investors have experienced, Mike Katchen, said in an interview with BNN Bloomberg Wednesday. 

“The worst thing young clients can do right now is panic and stop investing. These are the times when it's so important to help people really remain focused on what counts for delivering long-term investment outcomes,” he said. 

Millions of individuals have begun investing for the first time over the last few years, according to Katchen, driven by an interest in meme stocks in many instances, as well as an “overall demand for investing.”