A poll, of 2,000 adults, found that 66 per cent of those under 27 years old believe they can grow their money best - but it is actually the Baby Boomers who have the most money saved up
A recent poll of 2,000 adults has found that Baby Boomers are the top savers, yet it's Gen Z who believe they have the knack for making their money grow the most effectively.
Millennials are setting aside the most each year, averaging £5,036, but Baby Boomers have the largest total savings, with an impressive £27,966 saved up. Adams added, "That said, all generations gravitate towards a predictable rate of return on savings accounts and are potentially missing out on making their money work harder for them by investing."
Four out of ten are keen to get into investing but feel their lack of knowledge is a barrier, while 47 per cent have funds they're looking to grow through new opportunities. Jen Adams of Virgin Money said: "The findings have shown there's a lot more confidence around saving than investing, which is something the financial services regulator have set a target on."
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