Adults Worrying More About Money Today Than During Covid
Published / Last Updated on 06/12/2024
The latest IFA DNA survey by Fidelity Adviser Solutions has found that 60% of financial advisers said their clients are more worried about their financial wellbeing today than they were during the covid-19 pandemic.
The DNA survey started in 2019 and even during lockdown, it was only 35% od advisers that suggested their clients were worried about their money.
Key Concerns for Advisers and their Clients
- Inflation.
- Cost of living.
- Higher interest rates hitting mortgages and rental payments.
- Political uncertainty with tax increases hitting many clients.
- Stock market volatility.
- Geo-political uncertainty – Russia/Ukraine, Gaza/Lebanon/Iran/Israel, North Korea and of course, Donald Trump.
- Concerns that all of the above will continue for some time.
Comment
Let’s face it, we have not had a stable global economy on a normal economic cycle since the Brexit vote.
As we reach December, each year we seem to hope for better in the coming year and over recent years there is always a shock event that destroys those hopes.
We hope 2025 will be a better year for us all. Military tensions to ease, trade and tariff wars to not happen, economies to stabilise and the tax assault on UK employers and middle Britain to subside.