News
Over 50s predict stocks and shares will give more 'bang for their buck' in 2010
A new study from Saga Share Direct has revealed that almost a third (31%) of over-50s believe the recession will continue into 2011.
While only one in 10 (12%) believe the worst will be over in the first three months of this year, with men three times as likely to think this as women (16% vs 5%). It seems that financially savvy over-50s will be pitting their wits against the stock market in 2010 to make a profit, as two fifths (40%) believe that investing in shares will offer the biggest financial returns.
Interestingly, women (31%) are much less confident about the stock market than men (46%). A quarter (24%) of over 50s think that the FTSE 100 will remain at its current position of between 5,000 and 5,500 by the end of 2010, 41% believe it will be trading between 5,501 and 6,000.
Women are as likely to put their faith in the housing market as stocks and shares, a third (32%) predict property will offer the best return, despite the recent volatility in property prices.
Little is expected from savings accounts - only 6% of over 50s expect these to give good financial returns over the next 12 months. With the base rate at an all time low, the study found that over a fifth (21%) of over-50s expect it to double in the next year to 1%. A further one in ten (11%) expect interest rates to rise fourfold to 2%, which would significantly affect many people’s mortgage and savings accounts.
