The following are among the interesting findings to emerge from the first IBF Personal Asset Profile:
9 out of 10 consumers are savers/investors – 66% do so regularly, 13% do so regularly as well as by lump sum and 8% by lump sum only
Consumers clearly understand the difference between savings and investments – 68% plan regular saving over the next 3 years, while 32% plan investment
Consumers are not doing enough to promote their own financial interests
– 35% do not regularly review the performance of their investment
– 32% do not know how their investments have performed in the past year
Consumers are not planning properly for the future
– 26% of consumers have nothing in place as a potential source of retirement income; and 80% have never made an AVC
– 54% have not made a will and over two-thirds don’t intend to in the next year