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Investors’ biggest regrets could hold key to future saving success

Investors’ biggest regrets could hold key to future saving success

Following the Bank of England’s recent announcement that record low interest rates are unlikely to move for the foreseeable future, TD Direct Investing has revealed insights into what DIY investors would change about their saving regimes, given a second chance to turn the pennies into pounds.

According to the company’s annual Investor Confidence research, one in three investors said they wish they’d saved more, given the opportunity to do things differently, while nearly 1 in 5 people said that their biggest financial regret was not taking advantage of investment opportunities when they had the chance.

Stuart Welch, CEO, TD Direct Investing, said: “It’s perhaps unsurprising that investors say they wish they saved more, particularly given the challenging outlook for savers.  We found that over a quarter of respondents said they were over 30 by the time they started saving for retirement and a further 1 in 10 said that they hadn’t started to save for their retirement yet.

"Given Mark Carney’s announcement yesterday on interest rates, it’s more important than ever for investors to focus on their goals, whether it’s saving for a house or retirement and build a plan that enables them to achieve these goals.  If you are a long term investor, it’s clear to see that over time, equities can perform better than cash investments, where interest rates are low.”

Interestingly TD Direct Investing also found that it appears to be a case of do as I say not as I do, when it comes to saving. In fact, when asked what the main thing they are currently investing in, only 38% of respondents said retirement, with holiday (20%) beating buying a property (13%).

Stuart Welch, CEO, TD Direct Investing, said: “Planning and saving for retirement, is an important issue, however it’s clear from our research that some people are not starting to save for retirement until post 30 and some are not saving at all. This could significantly impact their ability to lead the life they desire in retirement.

“With interest rates remaining low, now could be the time for investors to review their approach and take advantage of investment opportunities which could bring better returns.”

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George Bailey