Four in ten Britons believe that investing is only for ‘rich people’

A digital artist has used AI to create an image of what Brits think a stereotypical ‘investor’ would look like.

The image shows the man in a sharp, well-fitting suit and a Rolex watch.

It follows research among 2,000 adults, which found that four in ten believe investing is only for ‘rich people’.

Based on the poll, the stereotypical investor is a man in his early 40s, most likely eating an expensive-looking steak and salad in a cozy home office.

Other items in their possession include a briefcase, several smartphones and expensive cufflinks.

While one in six imagined themselves wearing a Bluetooth headset so they could continue making hands-free calls.

The research, commissioned by Virgin Money to support their ambition to help investors grow their money as easily as possible, challenges stereotypical perceptions of what investors are.

It found that 32% believe they would become too expensive if they made any meaningful money from their own investments.

A quarter are simply unsure whether investing is affordable, with the average adult thinking you need to invest at least £1,600 to try it.

But 32% admit they don’t have a good understanding of how it all works, while a third don’t know where to start.

And 68% find investing too complicated for them and involving too much unnecessary jargon.

Jonathan Byrne, CEO of Virgin Money Investments, said: “The investing landscape has changed dramatically in recent years, becoming more accessible and popular with new audiences, particularly young adults.

“This research shows that many people still think investing is beyond their reach and that it requires large sums of money to get started, but that’s simply not true.

“In fact, it becomes significantly easier to do this – investing can be as easy as opening a savings account.”

The survey found that 35% are confident in their investment assets, believing that if they invested today they would generate returns.

Half (49%) would be more likely to try investing if they could do so with smaller sums of money, with an average of £166 per month considered a comfortable amount.

Shares, shares and ISAs were the most familiar investment methods for respondents, alongside bonds and cryptocurrencies.

While research via OnePoll shows that investing in a fund is seen as a good method by 46%.

The findings follow a study published last year which found that younger age groups have started investing more.

The FCA data shows that between 2020 and 2022 there is a 6% increase among 18 to 24 and 25 to 34 year olds and a 5% increase among 35 to 44 year olds.

Jonathan Byrne of Virgin Money Investments, which allows people to invest from just £25 a month in a Stocks and Shares ISA, investment account or a pension, added: “Investing can be for everyone, and we believe it is one of the best ways is to help people grow their money.

“It’s easy to think this is just for the rich, but that’s not the case anymore. The fact that more women and younger generations are getting involved in investing is a positive sign.

“We want to challenge the investor stereotype for good and show that investing is a great option for many people – you certainly don’t need a fancy suit, Rolex or home office to make your money work harder. That’s why we’ve made investing simple, without jargon, without waffling – just three no-nonsense options.”