11 Apr 2018 Almost three quarters of Brits who are investing say they get a buzz when seeing a return on their money, which outshines the buzz they get when losing weight (62%). In fact, one in ten investors (14%) say making a return gives them a “massive” buzz. Furthermore, when asked to pinpoint an experience that gives them a similar buzz to making a return, investors likened it to bagging a bargain (32%), going on holiday (20%), being promoted at work (14%) or losing weight (11%).
New research from Wealthify, the online investment service, reveals there are emotional as well as the obvious financial benefits when it comes to investing – making those Brits already investing feel in control (36%), satisfied (35%) and secure (31%), as well as confident (20%) and excited (15%) about their finances.
Yet despite the financial benefits of investing and the buzz it gives when making a return on hard-earned cash, almost two thirds (62%) of Brits haven’t tried investing yet, and only 2% of Brits claim to have invested in a Stocks & Shares ISA for the first time in the last twelve months.
Surprisingly, when looking at the top item on Brits’ to-do lists, managing finances (paying bills, tax returns etc) is the number one priority for a quarter (24%) of the UK. Despite this, starting a Stocks & Shares ISA – one of the easiest and quickest ways to join the investing world – is the top priority for only 2% of the nation, behind a trip to the dentist (5th place) and doing household chores (2nd place)3 on people’s to-do lists. Only 1% of non-investors say starting an investment ISA is the number one item on their to-do lists. Looking at different age-groups, 4% of 18-34-year olds and 2% of people aged between 35-54 say this is the top priority.
Many misconceptions are holding people back from giving investing a go. When it comes to starting a Stocks and Shares ISA, 30% of Brits are held back by the belief that they don’t have enough money to invest, while 19% think investing is too risky and 16% think they need to understand more about investing before trying it.
Michelle Pearce, co-founder and CIO of Wealthify, commented: “In today’s low interest and high inflation environment, it is encouraging to see that over a third (35%) of Brits invest. However, with just 2% saying they’ve put money into a Stocks & Shares ISA for the first time in the last twelve months, there’s clearly still much to do to persuade Brits to open their eyes to the opportunities investing can provide. It is surprising, for instance, that one in five people think investing is too risky. This suggests they don’t realise that not all types of investing are high-risk and they can choose a risk level that suits them.
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