Longevity and low returns threat to 'unprepared' over-50s - research

Despite being ‘prudent, waste-not-want-not generation’

Victoria McKeever
clock • 2 min read

Longevity and a decade of low interest rates are proving dangerous for those unprepared and approaching retirement, according to joint research by the London Institute of Banking & Finance and 7IM.

The research found that while older Britons were good at counting the pennies, their caution meant many have missed out on one of the longest bull markets in history.  The vast majority (93%) stated they knew how much was in their bank account at any one time. Just a tenth (9%) felt they were ‘not in control' of their finances, while nearly three-quarters (72%) said they would not spend money without thinking it through.  Respondents were much more comfortable investing in cash ISAs (83%) and NS&I savings accounts (74%), compared with investment trusts or funds (39%) or stocks and sha...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Future of Investment Festival: Our specialist sessions for advisers

Future of Investment Festival: Our specialist sessions for advisers

Future-proofing advice, building sustainable portfolios, all things SDR

Professional Adviser
clock 19 April 2024 • 2 min read
Why non-transparent managers are behind most failed acquisitions

Why non-transparent managers are behind most failed acquisitions

‘They don’t understand the importance of culture and cohesion’

Rami Cassis
clock 12 April 2024 • 3 min read
Partner Insight: Understanding the investment universe

Partner Insight: Understanding the investment universe

Invesco
clock 12 April 2024 • 6 min read