Brits ‘lose sleep over market volatility’

A third of middle-aged or older Brits are losing sleep because of the current turmoil in the finance markets, it has been revealed.

According to a YouGov survey sponsored by The Hartford, 47 per cent of respondents aged 55 or older are very concerned or fairly concerned about how the credit crisis will affect their pension.

Among people aged between 45 and 54 this figure fell to 38 per cent and 32 per cent of 35 to 44-year-olds said they felt the same.

Commenting on the results, John Enos, managing director of marketing and distribution at the firm, said: “In volatile equity markets, a guarantee on your retirement savings can provide invaluable peace of mind.

“This survey demonstrates that a large part of investing is psychological – market volatility can cause investors to feel greater levels of stress or even lose sleep.”

A fifth (21 per cent) of survey respondents said they would be willing to pay an annual cost to ensure that their pension savings did not decrease, even if the market does.

In addition to worrying about their pensions, a fifth of UK homeowners are concerned about how they are going to meet the cost of their mortgage repayments this year, according to the Financial Services Authority.

© Adfero Ltd

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