Less than half of people describe themselves as confident investors, with men significantly more likely than women to say this, a survey has found.
Just over two-fifths (44%) of people describe themselves as confident investors, rising to more than half (57%) of men, compared with just 31% of women, Aviva said.
Six in 10 (61%) people surveyed think some people are “born investors” rather than learning how to invest as a skill.
Nearly a third (32%) of investors surveyed said that they only came to investing later in life through their own interest and curiosity, according to Aviva.
More than two-fifths (42%) of investors said that, if they could go back in time, they would change how they managed their investments, while over a fifth (23%) said have made decisions they regret.
Just over a fifth (21%) said they were encouraged by family to consider investing from a young age.
Two-thirds (66%) of people surveyed said they are interested in changing their attitude towards investing and have a desire to build confidence.
This interest peaked among 18 to 24-year-olds (87%) – around double the proportion of people who are aged 55 and over (44%).
Alistair McQueen, head of savings and retirement at Aviva, said: “It is easy to think investing is a talent you’re born with but in reality, confidence is learned over time.
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“Many people only start to feel comfortable once they have tried it and realised that investing is more about steady habits than bold moves.
“The positive signal from this research is how many people want to build their confidence.
“Starting small, keeping things simple and giving yourself time can go a long way towards turning curiosity into action.”
Censuswide surveyed 2,000 people across the UK in April.
Here are some suggestions from Aviva to build confidence when investing:
1. Consider building a buffer first
Setting up a basic emergency fund will help avoid the need to cash in investments at short notice. Investors could then get started with building a small regular amount that they will not miss to gradually build a habit.
2. Keep it simple
People could consider starting with something diversified so they are not relying on one company or sector for their investment to grow.
3. Pick a timeframe
Investing is usually for money left untouched for the medium to long term – five years or more.
4. Think about where you are getting advice, particularly online
Be wary of promises of guaranteed returns or secret strategies. If it sounds too good to be true, it probably is.
