MLC have today released their quarterly Australian Wealth Sentiment Survey, which is based on the responses of 2,062 participants to seven questions related to:
- Current financial situation – asking respondents to indicate current holdings in each asset class.
- Investment intentions – asking the respondents whether they are likely to invest more or less. Net values shown are the difference in intentions.
- Level of concern related to superannuation and other investments.
- Likely change in insurance – temporary/permanent disability insurance, and life insurance.
- Distance to retirement and investment strategy.
The survey was conducted over the period 9 August to 27 August 2013.
According to MLC, Australians are worried about having insufficient funds for retirement and inflation eroding their savings:
The survey found Australians remain very cautious on the outlook for the economic environment and are focused on deposits and paying off debt. Meanwhile, consumer appetite for risk will increase marginally over the coming months – with a growing desire to put more into property and shares:
It also found that higher income earners favour super and property, while lower income earners prefer cash:
No surprises really.
