A recent report has identified that Britons who are opting for a cash saving approach rather than investing could lose value in the long-term.
The study surveyed UK citizens who have at least £5,000 or more in cash savings in their account which they have never invested. The aim of the research was to uncover the key reasons why Britons are not investing and to clarify some of the most common misconceptions.
With a weighty percentage of Britons (85%) choosing not to invest and preferring to put their money into a savings account, the study explored the drivers behind why cash saving accounts were chosen instead of investment products like Stocks and Shares Individual Savings Accounts (ISAs).
The key reasons given were that respondents preferred to put their money in a regular savings account so they could access money fast (95%). A further 94% believed that this approach presented less risk of money loss. However, according to experts, standard savings accounts are not always the best option and can lead to lower value for UK citizens in the long run.
Consumers in the UK who are unsure of the best ways to get more from their next egg often take investment advice in Shropshire, Staffordshire, and other counties. Wealth managers offer unbiased advice and explain the risks and returns involved in financial products using simple and clear to understand language, making them a valuable resource.
