More than half of Britons aged 35-45 do not feel fully in control of their finances, according to a new survey commissioned by F&C Investments.
The study, conducted online by market research specialist www.OnePoll.com, questioned 3,000 35-45 year olds about various aspects of their financial lives. Overall, just under 50% said they felt in control of their finances, with a little over 36% saying they felt a degree of control and 14% saying they did not feel at all in control.
Just 14% said they had both a will and adequate life insurance to ensure their family's financial security, with 22% having neither a will nor adequate life insurance. Men were more likely to have made a will but have inadequate life insurance compared with women, whereas women were more likely than men to have enough insurance but no will.
Scott Stevens at F&C Investments, says, "There is a real need for people in this age group to sort their financial lives out."
Life insurance: News update: 22 February 2010