Investing in shares is a good bet, according to almost a third of investors aged over 50, research from Saga has found.
Saga's survey of more than a hundred thousand adults aged 50 or older, discovered that 29 per cent believe that shares are offering a good investment prospect at the moment, despite recent turmoil in the economy and stock market volatility.
Commenting on the results of Saga's research, Roger Ramsden, chief executive of Saga Services, said: "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."
However, there is still some uncertainty amongst the over 50s about the best place to invest their money at the moment, with 36 per cent of respondents admitting that they feel less confident about making financial decisions, compared to the way they felt 18 months ago.
A further 38 per cent of over 50s investors said that they are unsure of where to find the best opportunities for investing for growth in the next 18 months, Saga's research found, so Mr Ramsden urges those investors who are unsure to seek independent financial advice before making any investment decisions.
Mr Ramsden also commented on how Saga's research also discovered that the housing market is not dead for the over 50s, even though house prices and sales have plummeted with falling mortgage lending.
"Optimistic over 50s are also seeing growth potential in the housing market," Mr Ramsden said, with 20% thinking that it still offers superior returns in the long term.
Meanwhile, with interest rates on savings accounts following the 0.5 per cent base rate with record lows, just 10 per cent of over 50s believe that in the current climate, savings still offer the best opportunity to make the most of their money.
© Fair Investment Company Ltd