The last person to ask about their finances is the individual

It does amuse me when I read research that concludes X, Y and Z having interviewed a bunch of older people about the state of the finances.

The chances are they will not have a clue about the facts and their implications and worse still don't realise how little they don't know and even worse than that will be embarrassed to admit the state of their ignorance.

I am not saying that younger people are that much better informed, if at all.

The bottom line is that the majority of people sail along in a state of blissful naivety about their finances. And of course the financial services industry like it that way and probably build their products around that assumption.

Don't believe me? Have a read of this research. Dick Stroud