Older investors ''no longer hiding cash under mattress''
14/07/2009
By Matt Gardner
People over the age of 50 are starting to see past the major problems in the investment market, with the mattress no longer being seen as the safest option, according to a new poll.
Saga said that a large amount of scepticism still remains in the market, with only one in ten showing faith in savings given current issues with the interest rate.
However, others are starting to see more opportunities to put their money into other assets, with one in five believing the housing market to be the best place to get returns.
Another 29 per cent reckon equities to be the future, seeing the stock market as a great source of money-making.
Commenting on the situation, Roger Ramsden, the chief executive of Saga Services, said: "Contrary to the perception that people are stashing cash under the mattress in the recession, over 50s are forecasting strong investment opportunities over the next 18 months."
This month, a new mattress was developed as a life-saving measure, with Michigan Technological University creating a bed capable of deflation to reinforce the efforts of CPR which doctors may give in the event of an emergency.
