If you are over 50 and a dedicated saver, you are likely to match one of five profiles, according to new research.
The savers range from high earners; devil may care investors taking a chance with their money to much more restrained family breadwinners cautious with their cash.
The research gives an insight into how investors and their families manage their money, says financial firm Saga Investment Services.
Check out your profile
Check out the list below to find out which kind of saver you are:
- Financial adventurers are likely to be men aged over 65 with assets of £100,000 or more mainly held in cash and stocks and shares ISAs. These savers enjoy dabbling in shares and are likely to earn £50,000 or more a year and are comfortable with risking their money
- Savvy savers are aged between 50 and 64 years old, have children, cash savings. Their number is evenly split between men and women. These savers watch interest rates and special offers and switch their money between accounts to earn more but are unlikely to invest in shares
- Safe players are aged between 50 and 64 years old, have assets worth less than £100,000 and two out of three are women. They do not like risk and stick to safer savings accounts
- Down to Earthers are aged 50, slightly more likely to be women than men, with around one in five having assets of more than £100,000. They have saved hard for most of their lives but enjoy life, are less likely to have children and are not concerned about leaving their wealth to loved ones
- Family plate spinners have less than £100,000 in assets and calls on their money from parents and children as well as a desire to save. Building a pot of money is more important than looking at ways to invest
Take the quiz
“The labels are just a bit of fun designed to help the over 50s look at the different ways other people are manging their money,” said Saga’s Nici Audhlam-Gardiner.
She suggests anyone wanting to confirm their savings profile should go to the Saga web site and try out the quiz.
