Young investors are warming to term deposits
The increasing popularity of term deposits among super investors is not being driven solely by risk averse older Australians according to new research from RaboDirect.
The greatest growth in five-year term deposits for SMSFs has been from those aged under 50, with the most significant increase coming from those aged in the 20-30 and 30-40 brackets which both grew six-fold.
“Historically, we have found that term deposits appeal to an older, more risk averse customer. Interestingly we are now seeing younger people turning to term deposits due to the certainty of returns,” said Tim Hewson, investments manager at RaboDirect.
Source: Financial Standard