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Fifth of adults would invest a £15,000 windfall

Fifth of adults would invest a £15,000 windfall

Category: Investments

Updated: 08/05/2013
First Published: 07/05/2013

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

What would you do with a £15,000 windfall? Buy a new car, book an expensive holiday or make some home improvements? Or would you place it in a nest egg for your future?

A recent survey by J.P. Morgan Asset Management (JPMAM) found that in the event of receiving such an amount, 43% of people would choose to save rather than spend, spend, spend, with 27% of men more likely to invest the money compared with 16% of women.

One in six claimed they would use the money to pay off a lump sum of their mortgage, whilst 21% of those surveyed said they would invest their money.

The number of people willing to invest or save a £15,000 windfall has dropped over the past five years, however, suggesting that people would prefer to seize the opportunity and splash the cash during the current age of austerity.

In 2008, 68% of UK adults stated that they would place such an amount in a savings account, whilst over a third (36%) would have chosen to invest it.

Keith Evins, head of UK funds marketing at JPMAM, said: "An unexpected windfall would be a simple solution for many, but wishful thinking isn't going to make up the shortfall for people who are not currently saving for retirement.

"The short-term gratification of booking a holiday is a great feeling, but spending more precious time thinking about longer-term concerns like investments, will pay dividends in the future," he concluded.


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