50% favour stock market for long-term security

IN a study published yesterday nearly 50% of the respondents are of the opinion that investing in the stock market is the best way to achieve financial security, despite the Footsie 100 recently hitting a seven-year low.

Around 42% of people in Britain said they thought putting money into shares was an important part of long-term saving, while 57% said a stock market investment was key to planning for retirement, according to financial group Alliance & Leicester.

People in the over 50 age bracket were most likely to see shares as important part of retirement saving, with 74% saying they would invest in the stock market to boost their pension.