Published on September 28th, 2015 | by Pete0
What is the best way to invest money?
No matter how much money you have, you could always do with a little more. The majority of people who have a larger income than their monthly or annual outgoings make the decision to invest their funds in order to provide them with financial security as well additional returns. But the question is, what is the best way to invest money?
In order to find out how the UK prefers to invest their money, Lottosend has just conducted a survey of 1500 people across the UK asking what they believe to be the best method of investing money. The results reveal that the majority of respondents believe that Property Investment is the best way to invest money. A total of 33.4% of respondents chose property investment, however this was closely followed by tax free ISA allowance (32.7%)
The Top Responses
Property investment 33.4%
Tax free ISA allowance 32.7%
Investing in stocks and shares 11.6%
Investment Trusts 8.2%
Asset investments 6.7%
Unit Trust or OEIC 4.1%
Tracker funds and ETFs 3.4%
Although the overall top response was property investment, the results indicate a clear preference when it comes to types of investment when looking into the demographics of gender and age. The top response for both males (31.2%) and females (38.9%) was in fact tax free ISA allowance.
When it comes to age, individuals under the age of 35 consider property investment the best type of investment, whereas people over the age of 35 see tax free ISA allowance as a more viable investment option. In terms of the age groups of respondents under the age of 35, 32.6% of 18 to 24 year olds and 32.8% of 25 to 34 year olds choose property investment as their top response.
This is contrasted by age groups over 35, such as 34.9% of 35 of 44 year olds, 35.4% of 45 to 54 year olds, 42.1% of 55 to 64 year olds and 49.1% of people aged over 65 said that they consider tax free ISA allowance the best form of investment.
There seems to be a clear divide in opinion when it comes to investment, especially when it comes to your age. What do you think is the best way to invest your money? Let us know your thoughts on investment in the comments below or in Twitter at @moneysuperstar!