Australians looking to investments outside of property

Kate-Browne/finder/ETFs/investing/share-market/

11 December 2020
| By Chris Dastoor |
image
image
expand image

Over a quarter of Australians (27%) now invest in the share market, with 10% investing in exchange traded funds (ETFs) and 6% investing in foreign exchange assets, according to research from Finder.

The survey was conducted with a sample of 1,004 respondents which found 66% had some level of investments other than property, an estimated 12.8 million Australians.

Around 13% had their money in a term deposit, while 44% still used a cash savings account; robo-advisers were also used by 2%

Kate Browne, Finder personal finance expert, said Australians wanted to build their fortunes and weren’t prepared to rely solely on their income to do so.

“It’s a broad spectrum – from those investors who just want to maximise savings to those who are striving for financial freedom,” Browne said.

“Low savings interest rates have also driven more people into the share market as they seek to make a profitable return on their investments.

“No matter the goal – it’s clear there’s interest in a vast array of different investment options – all with different levels of risk and potential returns.”

However, there was a gender gap as 73% of men had involvement in investing, compared to only 60% of women.

Browne said assets could provide security if investors experienced income losses or a financial emergency, but that they should have enough cash in an emergency fund and invest wisely.

“Uncertainty driven by the Coronavirus outbreak has caused a lot of people to want to build their earnings through investments,” Browne said.

“If you don’t have any money left at the end of month to invest with – the first step might be to reduce spending through various forms of frugality.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 4 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 2 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND