Silver Surfers now becoming Silver Savers

Silver Surfers now becoming Silver Savers

New statistics from the Office of National Statistics have revealed that asset-rich over 65s are becoming more tech-savvy, spending more time on line and have the time to research and invest on line rather than engage the services of a wealth manager to look after their finances.

The statistics show that around 80% of 65-74 year-olds are now online regularly (up from 52% in 2011). The percentage of 75 year-olds who regularly surf the internet has more than doubled to 44% during this period.

Commenting on the figures, Parul Scampion, co-founder of new online investment platform, propio.com, said: “Many brands have been desperate to attract millennials and have overlooked the older generation in recent years. But now, these so-called ‘digital dinosaurs’ are becoming an increasingly important market for companies of all types. Investing online has been easier for everyone in recent years and tracking our investments on our tablets or mobile devices is now commonplace, so now is the time for tech-savvy older people to discover the myriad alternative investment opportunities available online.”

With a market potentially worth £1.5 trillion, UK seniors are now seizing the opportunity and this has seen the emergence of crowdfunding and peer 2 peer platforms such as Propio, Property Partner, House Crowd, UOWN and Property Moose come to the fore.

Investing in property online has become big business and more and more seniors are taking the plunge to enhance their retirement funds. Parul Scampion continues, “Investing in property makes sense for retirees wanting to invest some of their savings and perhaps take bit more of a risk to achieve returns of up to 20%, perhaps to make a smaller profit over the short-term to help their children out financially or to merely achieve better returns than those available through products such as Premium Bonds, for example.”

The transition from silver surfers to silver savers is an interesting development for the entire investment market.