Share and share alike - Over 50s flock to stocks and shares

Britons over 50 are turning to share dealing in huge numbers – perhaps as savers have finally tired of waiting for the base rate to rise.
 
Figures from Saga Share Dealing show a huge yearly increase (80%) in the number of customers opening nominee share dealing accounts. There has also been a general, 43% year-on-year rise in the number of new accounts being opened, as well as a 30% increase in trading volumes.
 
Experts say stocks and shares have become more and more popular in recent years among people of all ages, because low interest rates mean returns from savings accounts have failed to keep up with the rising cost of living.
 
Andrew Strong, CEO Acromas Financial Services, commented: "Share Dealing probably seems a more attractive prospect at the moment because even the Bank of England says base rates will not rise quickly, or by much. So holding out for a rise in interest rates, in order to improve income, may not be the wisest decision.
 
“Saga has produced a free guide to savings and investing, which can help those who are considering their options when it comes to how best to manage their money.
 
“Increasing interest in share dealing suggests a growing confidence, not only in the markets, but also in the ability of investors to make their own investment decisions.”
 
A recent Saga poll, carried out by Populus, showed that many of Britain’s over 50s think both the FTSE 100 Index and Bank of England Base Rate will rise by the end of 2014, indicating a general increase in confidence about the markets.