A fear of running out of money is stopping over-55s from buying things they actually need, underlining the role of emotions and the troubled relationship many have with money, new research from behavioural finance experts Oxford Risk shows.
The study with more than 1,000 over-55s found around a third (30%) – equivalent to 6.4 million people** – agree that spending money makes them anxious while 31% agree they often do not spend money on things they actually need. This is often linked to FORO, a fear of running out of money, especially when approaching or in retirement.
Oxford Risk’s research […]
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