Poles are most willing to invest in currencies, bullion and real estate

In the "Finances of Poles" survey, Bank Millennium asked respondents about their financial situation and savings for the third time. This year's edition shows that Poles are more and more willing to invest surplus money. This was declared by 11% of respondents, which is an increase of 4 percentage points compared to last year's survey.

— The increase in the percentage of people investing financial surpluses is a positive direction, which is undoubtedly supported by the high dynamics of household income and the accompanying increase in savings — comments Grzegorz Maliszewski, Chief Economist at Bank Millennium. However, as he points out, the percentage of those declaring investing "still remains at a low level".

The results of the survey indicate that men are more willing to invest (15% of respondents declare so) than women (9% of responses). The average Polish investor is a man who lives in a big city, has a university degree and runs a business or is employed full-time.

Respondents were also asked what they invest their money in. The most common indications were: foreign currencies (11 per cent of respondents), gold or silver (10 per cent of respondents) and real estate (8 per cent of respondents). They also reach for investment products in a bank (7 per cent of respondents), bonds (7 per cent of respondents), shares (6 per cent of respondents) or buy land (6 per cent of respondents).

— Interestingly, one of the most frequently indicated investment options are foreign currencies, which is generally associated with increased risk. However, it may be that the purchase of currencies – euros or US dollars – was seen as a form of capital protection in conditions of high uncertainty, i.e. the outbreak of war in Ukraine, the COVID-19 pandemic and high inflation — Grzegorz Maliszewski explains.

The "Finances of Poles" survey shows that the respondents approach investing with great caution and only 19 percent of them feel confident in the area of investments. One of the most frequently mentioned concerns is the view that investing is for people who know it well (60 per cent of respondents think so) or are wealthy (48 per cent of respondents). They also claim that the invested cash is frozen for a long time (54 per cent of respondents) or that investing consumes a lot of time (46 per cent of respondents).

According to the Chief Economist of Bank Millennium, the key to overcoming fears about investments is the economic education of the society. — Popularisation of investing and long-term saving is particularly important in the context of retirement security — Maliszewski adds.

Concerns and uncertainty in the area of investment are reflected in the approach to these products. For as many as 75% of respondents, a guarantee of capital is important, and for 74% of respondents – security and low risk as well as low fees for product service. The respondents would also like investment products to be flexible, i.e. allowing you to withdraw money free of charge and for any deposits (73% of respondents indicated so), provide a high potential rate of return (69% of respondents) and allow you to start investing with low amounts (62% of respondents). At the same time, as many as 61% of respondents would like to count on the support of a bank employee when making a decision.

— Our clients are increasingly interested in investing. We try to meet their expectations by providing a range of products with different profit potential and risk levels. We offer, among others, regular saving products, as well as investment funds, which are purchased by customers with more knowledge about investing — explained Robert Chorzępa, Head of the Investment Products and Processes Sub-unit at Bank Millennium.

The "Finances of Poles" survey was conducted by the Ariadna National Research Panel on a nationwide sample of 1135 people. Amounts selected according to representation in the population of Poles aged 18 and over for gender, age and size of the place of residence. The survey was carried out on May 10-12, 2024. Survey method: CAWI.

More information: www.bankmillennium.pllink otwiera się w nowym oknie.