Risk aversion was high across age groups with 40 per cent of 18–34-year-olds defining themselves as having a low appetite for risk, as did 53 per cent of those aged 35-54 and 66 per cent of the over-55s.
Those with the lowest financial literacy levels were around double as likely to have a low risk tolerance than those with the highest.
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Similarly, those with the highest financial literacy were double as likely to have a high risk tolerance.
alina.khan@ft.com
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