The peer-to-peer business lending platform found that 67% of adults saw themselves as savers, using ‘safe’ banking options, while the remaining 33% classed themselves as investors.
Of the 2,000 adults surveyed, 35% of millennials were investing or saving more than £250 per month, compared to 26% of generation X and 25% of baby boomers.
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“Despite claims that millennials are stuck in a financial rut – trapped by high property prices and low-wage growth – this is a generation that has grown up in an era of record-low interest rates and recognise the need to secure better returns on their disposable income,” explained Angus Dent, CEO of ArchOver.
“On the other hand, those aged over 35 are at risk of missing out on new avenues offering higher returns.
“Gen X and baby boomers could benefit from following in the footsteps of millennials and introducing greater diversity into their investment portfolios to seek out higher returns.”
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