Confidence in investment options amongst over 50s

Roger Ramsden, Chief Executive, Saga Services, comments on consumer confidence in investment options amongst the over 50s: "Contrary to the perception that people are stashing cash under the mattress in the recession, research by Saga Financial Planning* shows that many over 50s are forecasting strong investment opportunities over the next 18 months, with nearly a third (29%) tipping shares as good prospects.

"Optimistic over 50s are also seeing growth potential in the housing market, with a fifth (20%) thinking it offers superior long term returns. One in ten say that savings offer the best opportunity to make the most of their money.

"There is also understandably some uncertainty amongst over 50s regarding where to invest their money in the current climate. The research shows that just over a third (36%) say that they are less confident about making their own financial decisions now compared to 18 months ago. Similarly almost four in ten people (38%) say that they do not know where the best opportunities for growth lie over the next 18 months, with women being almost twice as likely to say this as men (50% women vs 30%). We would urge people to take independent financial advice before making investments that they are unsure of."

* Research conducted amongst 111809 adults aged over 50 by the Saga/Populus panel between 5-10th June 2009