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...
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