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Over 50s turn to stock market to fund retirement


A third of people over the age of 50 have turned to the stock market to help fund their retirement, according to research from Saga Share Direct.

One in three people aged over 50 has bought shares in a company to give them a regular source of income in retirement. They also believe investing in shares will leave them with a higher return than investing their savings into a savings account, according to Saga.

Money was not the only reason people near and in retirement invested in the stock market, with 7% of people considering keeping their eye on the stock market as a hobby. Some people claimed they invest to keep themselves mentally active and others because they enjoy working with numbers.

Saga now believes 11 million people aged over 50 have shares of some kind, whether through purchasing them, inheriting them from a family member or being given them by an employer.

Jeff Bromage, Chief Operating Officer at Saga Personal Finance, said:

“These days lots of people are worried about making their money last in retirement and now that people are able to take their pension as a lump sum I wouldn’t be surprised if we see more people start trading to help boost their income. However people should remember that there are some risks involved with share dealing so they should always do their research before they start investing their money.”

Have you turned to the stock market to help fund your retirement? Tweet us @FinancialUK to let us know!

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