Brits visit wind farm to see pension investments put to good use
Brits think investing is strictly reserved for the super-rich – with 45 percent not getting involved themselves, a study has revealed. A poll of 2,000 adults found 38 percent associate it with city bankers, while 21 percent think it’s the domain of older adults.
And 47 percent admit they’re daunted by the prospect of getting started – with four in ten not having a clue where or how to begin.
A third (32 percent) also didn’t start taking any active interest in their pension until they were 36 or older.
Liz Fernando, chief investment officer for Nest pensions, which commissioned the research, said: “Pensions are a great way to invest your money and watch it grow over time, in the background while you work.
“It’s evident that there’s a lot of work to do to demystify perceptions surrounding who can enter the world of investment – it really can be for everyone.”
The results also found 49 percent believe the general perception of investing being primarily for the wealthy acts as a barrier for other people who would otherwise want to invest.
And almost three-quarters (73 percent) feel these opportunities should be accessible for people from all income levels.
Among the three groups which Brits feel are most underrepresented when it comes to investing are the working classes (46 percent), young people (34 percent), and ethnic minorities (29 percent).
For nearly eight in ten (78 percent), the fear of losing money makes the idea of investment off-putting.
And lack of investing knowledge (52 percent), uncertainty about the economy (51 percent), and not knowing where to begin (38 percent) are among other top fears.
However, 64 percent believe more people would be likely to invest – if they could see where exactly their money is going.
A third would describe their investing knowledge as “bad” – but 53 percent feel clear and transparent information about investment options would help ease their concerns.
Nearly half (49 percent) of those polled, via OnePoll, feel they would most benefit from simpler investment platforms or tools.
And when it comes to pensions, profitability is sought-after for 58 percent, while investing in sustainable businesses is vital for 29 percent.
More than four in ten (42 percent) are connected to their pension through an employment plan – while 15 percent contribute through a private plan.
Liz Fernando, for Nest pensions, added: “We know your pension pot can be one of the most valuable ways to help secure your future retirement, and it’s right you know where it’s being invested – especially when you’re saving into it for decades.
“We don’t know how the world of finance will look in years to come – but we do know your future self should be grateful that you are adding to your pot.”
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