AXA: Recession making people miss out on investment opportunities

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AXA: Recession making people miss out on investment opportunities

According to new research from insurance firm AXA, 80 per cent of Brits are currently not working toward managing their long-term investments or pensions.

Overall, 63 per cent said that they are unlikely to open savings accounts over the coming months, due to them having less of a disposable income to work with.

The downturn will last for another 18 months, in the opinion of 60 per cent of respondents, while 20 per cent believe it will stretch onwards for another three years or more.

A further 60 per cent said they have little confidence in the government's efforts to implement plans to tackle the recession.

"Waiting until the turmoil is over before investing has, in the past, never been the most effective way to make the most from your money, as time in the market is nearly always better than timing the market," stated chief executive officer of AXA Winterthur Wealth Management Mike Kellard.

Meanwhile, increasing numbers of pensioners are being declared bankrupt in the UK, according to recent research from accountancy firm Wilkins Kennedy.

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