Saga Personal Finance: Investment in equities 'prudent'

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Saga Personal Finance: Investment in equities 'prudent'

Directing funds towards equity markets rather than simply dealing in cash may be one of the best ways for older people to manage their savings.

According to Steve Ashton, chief executive of Saga Personal Finance, cash investments can be subject to the vagaries of inflation levels.

"And that is not a good thing as you will suddenly find that your fixed income erodes in value as your fixed inflation eats into it over the 15 to 20 years that you have still got to make the money last for," he said.

Mr Ashton said that older people were ideally positioned to enjoy the benefits of an online share dealing option, as retirees would have more time to manage accounts than working people.

His comments follow the opening of Saga Personal Finance's Fantasy Share Dealing game.

Through this Saga hopes to show older consumers how they might consider investing their money in the stock market.

Saga focuses exclusively on the provision of services for consumers over the age of 50.

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