Baby boomers need financial advice

Pensions Age reports “Despite baby boomers owning more than a third of the UK’s wealth, many in this age group are missing out on potential investment gains as they lack confidence and knowledge about where to invest their money, research by savings and investment company Aegon has found.

Wealth in the older age bracket is primarily driven by the value of property, pensions and savings. However, those aged 55+ admit they are highly risk-averse when it comes to investments, with 44 per cent preferring to avoid risk at all costs, compared to 36 per cent of those aged 18-34. 

A further 32 per cent of those in the baby boomer age-bracket stated that being financially cautious is incredibly important to them, and another 18 per cent said family and friends would describe them as cautious. “ Read more