Old before your time?

aroominyork

Now >60. Would not have opened one at 25.

The purpose of the question is not to interrogate how people applied their money at the age of 25, whether by investing, saving or emulating George Best – "I spent a lot of money on booze, birds, and fast cars. The rest I just squandered" – but to investigate whether, assuming you had money you wanted to lend to a financial institution in return for a market-leading rate of interest, the fact that an institution marketing its products and services specifically to an older demographic would impact on your decision whether to patronise such institution.

Ocelot

Now >60. Would have opened one at 25.

https://forums.moneysavingexpert.com/discussion/comment/82076596#Comment_82076596

I might have too, but that was in 1990, and I wouldn't have had a clue where to go to get one.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82077403#Comment_82077403

Hard isn't it, trying to remember what it was like BTI (Before the Internet). How you couldn't just 'look stuff up'.

Section62

https://forums.moneysavingexpert.com/discussion/comment/82077403#Comment_82077403

The Man from the Pru (or CIS) could have helped you. Though not sure about the 'cheap' and 'global' bits.

masonic

Now >40. Would have opened one at 25.

It goes to show we're all different. At 25, I had no income, not a lot of savings, and was busy writing my thesis. It was not a time I could really consider investing beyond the £150 per month I had just started doing, so I needed an easy access savings account.

However this was overlooking the fact 4.5% would have been considered a low rate of interest back then.

subjecttocontract

Now >70. Would not have opened one at 25.

https://forums.moneysavingexpert.com/discussion/comment/82077341#Comment_82077341

If that's the point of the question we can/ have already answered it within the poll. So, what's the point of people posting in addition to that ?.......it's to provide more detail. If you don't want more detail then just stick with the poll.

Lets face it, nobody will or is ever going to get rich by putting their money in a savings account paying 4.5%. At 25 most people are not really looking for a safe, no risk savings account with Saga of anyone else.....I certainly wasnt.

Middle_of_the_Road

Now >60. Would have opened one at 25.

at

https://forums.moneysavingexpert.com/discussion/comment/82077984#Comment_82077984

At 25 there I think there will be people looking for a safe no risk savings account, while saving for a property deposit. Probably should be a LISA though.

masonic

Now >40. Would have opened one at 25.

https://forums.moneysavingexpert.com/discussion/comment/82077984#Comment_82077984

"At 25 most people are not really looking for a safe, no risk savings account with Saga of anyone else.....I certainly wasnt."

Only a minority of people at 25 have enough savings to reasonably consider investing. Most have less than 3 months living expenses to fall back on and would be unwise to do so until they've built a sufficient emergency fund. The best place for an emergency fund is an account that is readily accessible and not at risk of being worth less than you put in if you do need to access it.

Middle_of_the_Road

Now >60. Would have opened one at 25.

https://forums.moneysavingexpert.com/discussion/comment/82078032#Comment_82078032

Hopefully most will be contributing to a works pension that will have been invested whether they realise it or not.