Baby boomers homeowners are the group most likely to invest, according to latest figures from the HL Savings & Resilience Barometer.
The report, produced with Oxford Economics in July 2022, found that just over four in ten baby boomers have made some kind of investment, with 51.5% of these being homeowners.
Moreover, research showed that those within the income bracket of over £150,000 a year were the most likely to invest, with a staggering 71.7% of those in that bracket claiming to have investment opportunities.
Emma Wall, head of investment analysis and research at Hargreaves Lansdown, said: “At first glance it is rather clichéd to see that the age group most likely to invest are baby boomers.
“Add to that the income bracket most likely to invest are the richest, and that homeowners over renters are more likely to invest, and it can start to be disheartening reading.
“But look a little deeper at the stats from our Savings and Resilience Barometer, and there are plenty of points of optimism.”
This is evident, as not all of the report’s findings confirm stereotypical investment trends that mainly see older and wealthier people taking the plunge.
In fact, a heartening 27.4% of 20–24-year-olds claimed to have made an investment of some kind.
As well as this, 31.2% of homeowning millennials and 17.4% of homeowning gen Zs, also report having made investments.
Wall added: “The challenge, of course, will be for investors across the generations to sustain their habit as the cost-of-living rises.
“Inflation is running at 8.6% in the UK, and while it has come down from the 9.9% it hit over the summer, the Bank of England has forecast to stay high into 2023 – not falling to the target rate of 2% for two years.
“But if you can spare the money in these stretched times, it could be a great time to buy into the stock market, as many markets are in bear territory, meaning they have fallen 20% or more from their peak.”
