MADRID, Oct. 1 (-) –
80% of Spanish savers and investors do not set financial objectives or plan their investments, while only 17% say they set a specific objective when making them and plan them in some detail, according to a study published this Sunday by the Spanish branch of JP Morgan Asset Managemet on the occasion of Financial Education Day, which is celebrated tomorrow.
More specifically, the manager of the American giant has indicated, after conducting a survey among more than 1,300 Spanish investors, that up to 43% of people who have a type of savings or investment product are happy with not losing money. invested, compared to almost 26% who aspire to get the maximum return on their investments.
The Spanish office of JP Morgan AM has assessed in a press release that these data are “a sample of the path that small savers and investors still have to travel when it comes to putting their money to work efficiently.”
The survey did not detect differences between men and women, but it did in terms of age: those under 45 years of age show a greater tendency to set goals and plan their savings, registering a rate of 23.5%, almost ten percentage points per above those over 45 years of age, a group in which only 14.3% do this preparation exercise.
The entity’s sales executive, Francisco Márquez de Prado, has pointed out that the basis of the “marked conservative character” of the Spanish investor “may lie in the lack of financial preparation.”
“It is a common mistake to think that you need to accumulate a significant amount of money to invest or that you have to be an expert to guess the evolution of the market; the important thing is to consider vital objectives (education of children, retirement, etc.) as a destination of the money we save, and put that money to work as soon as possible,” Márquez added, and stressed that if investments are made periodically, the market entry effect and the feeling of risk are diluted.
On the other hand, regarding the degree of planning, the firm’s report has pointed out that almost half of those surveyed carry out operations only sporadically and, of these, barely half invest, they only invest when they consider that it is faced with a market opportunity, which, according to JP Morgan, suggests that he is getting carried away by the moment.
For their part, almost 30% of investors claim to make regular contributions, although without further planning and without setting financial objectives, although the manager argues that periodicity allows market fluctuations to be smoothed, since each contribution is made at moments and different valuations.
Among those surveyed there is also no special predicament in preparing for a future retirement, since 45% of them comment that they do not allocate any type of savings or investment to complement their retirement.
However, in this question there are distinctions based on age and proximity to the time of retirement: 58% of those over 55 years of age consider saving or investing to improve their retirement, compared to 48% of those over 55 years of age. 44 years old and 40% of those under 44 years old.