if having individual UK savers is bad for the economy, regarding crappy GDP metrics, what is it when pretend patriots/execs actually remove money from the UK and stash it in tax havens?🤔

Some of these people genuinely believe that on their retirement they get a bucket with all their past pension payments in and that’ll be enough to keep them going for decades.

No one believes that. No one who is under 40 imagines they will get a pension at all. It will be working until death or assisted suicide.

All the more reason to invest your savings.

I am in the group that has no savings.

Yes, and that’s another ticking timebomb. Given the cost of living, housing, student debt etc, it’s quite privileged to blithely assume people can just “use their savings”.

Yes, fair enough, many people do not have any savings, which is an important but separate issue. But we are talking here about how people that do have savings use them - and in every case they should invest them rather than leave money sitting in a bank and losing value over time.

One in ten UK adults have absolutely no savings at all, a stat that increases considerably among the younger population. Overall, a quarter of the UK adult population have low financial resilience. Talk about your index trackers all you like, but if you can’t save, you can’t invest.

I agree that is very concerning and should be a priority for the government. But what is also true is that the 90% that do have savings should ALL have a stocks and share ISA as where they can increase the value of their savings year on year

Fair point. But there are plenty in their 50s who still believe the State will somehow magically provide. It’s a toxic cocktail.

I think the humidity has got to people’s heads today.