FinancialAdvice.co.uk Logo

Qualified advisers answering your
Financial Questions
call 0800 092 1245

Over 50s turn to stock market to fund retirement

19/08/2015

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!

Need financial advice?



If you have any personal finance questions related to this news article, then please contact our financial advisers. You can get in touch by asking a question online, calling us on 0800 092 1245, or by arranging a visit.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:



Latest News

Blogs

Helpful new tax year facts that could affect you and your money


Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.


Read more

Useful Links

Popular Searches

Please Enter More Details

 
Enter More Details
Continue