Amundi Decoding Investor Goals 2026 report
2026 Marketing Communication DECODING Investor Goals
Protection from inflation is a key motivation for 37% of investors. While the desire for growth and financial security remains strong, fear of loss, market confidence, and earning power increasingly shape how investors act. 03-16 Advised investors are three times more confident than the unadvised – demonstrating the role financial planning plays in supporting those approaching retirement. 17-30 The search for growth in an era of uncertainty The retirement planning imperative Against a backdrop of economic uncertainty, shifting life priorities and uneven access to advice, investor goals and behaviours are becoming more nuanced – and more constrained. The result is not a lack of ambition, but a growing gap between intent and execution that widens over time and across segments. Headlines Globally, personal savings and investments are expected to account for 42% of retirement income, but confidence in long-term financial security declines with age.
The search for growth in an era of uncertainty 1 Growth and income are the main goals of investment - but amid market uncertainty ambition and preservation are running in parallel. Inflation protection ranks third as a motivation (37%). This is partly driven by those investors with higher financial literacy, 44% of whom cite inflation protection as a core motivation of investment. For these investors, who are likely to have a clearer sense of how inflation may erode their savings, the importance of investing to deliver real-terms growth will be front of mind. Today’s investor is holding caution and optimism in equal measure. This is reflected in investor portfolios, with those who are motivated by inflation protection more likely to hold a range of investment products, including equities (52% compared to 48% of all investors), ETFs (43% vs 31%) and bonds (33% vs 27%). Fig 1: Motivations driving the decision to invest (weighted global totals) * Markets citing inflation protection Top five Bottom five 43 % 36 % 28 % 16 % 13 % 53 % 36 % 19 % 15 % To grow my wealth over time To generate income from my investments To protect my money from inflation To become financially independent / have more freedom in the future To fund retirement / ensure long-term financial security To pay for a big future expense (e g travel, a car, a major purchase) For the challenge, enjoyment, or sense of achievement To retire early To leave an inheritance or legacy To reduce my tax liabilities 43 % 43 % 43 % DEU 44 % 44 % ITA BEL MYS TWN 31 % 29 % 30 % 27 % 24 % THA SWE FIN ZAF KOR 37 % DECODING | Investor Goals DECODING | Investor Goals 3 4 * Base size: total investors, n=13,249
1 . The search for growth in an era of uncertainty 1 . The search for growth in an era of uncertainty Anxiety about the unpredictability of markets and a fear of losing money are significant barriers to investment. In particular, the focus on an uncertain economic and political environment suggests that investors need greater reassurance on investment markets in the immediate term. This is most evident in Asian markets. Across Asia, 32% cite political or economic uncertainty as a barrier to investment, compared to 23% in Europe. Perceived financial constraints also play a significant role – either in not earning enough money or being focused on building up cash reserves first. These responses point to tension between long-term intent and shorter-term financial priorities – a tension that may be resolved by creating solutions that reduce the barriers to entry and build confidence. This could include lowering minimum investments, so that affordability is less of a barrier. Better communications on fees and greater education on long-term benefits will also help to demonstrate that even relatively small contributions can deliver meaningful value over time. Top five markets Bottom five markets Fig 2: Stated barriers to investing more (weighted global totals) * 27 % 30 % I’m worried about losing money The economic or political environment feels too uncertain DECODING | Investor Goals DECODING | Investor Goals 5 6 18 % 9 % 9 % 19 % 12 % 20 % 24 % 15 % I already feel I am doing enough I don’t earn enough money I am focused on building up cash savings first The cost / fees associated with investing I am not confident in the performance of investment markets I am focused on paying off debt I don’t understand how to invest or what my investment options are I had a negative experience with investing 42 % MYS 42 % TWN 36 % HKG 34 % SGP 34 % KOR 20 % 20 % 22 % DEU FIN AUT 18 % JPN 16 % ITA * Base size: total investors, n=13,249
Grow my wealth over time Financial independence For the enjoyment / challenge To pay for big future expenses Funding retirement 21-30 31-40 41-50 51-60 61+ 56 55 50 54 54 44 28 33 19 36 39 34 40 41 43 34 27 27 24 25 29 21 21 17 17 Retirement climbs steadily in importance as an investment motivation through the age groups. Just 27% of 21–30 year olds cite funding retirement as a motivation, rising at every age band to 43% of 51–60s and 44% of those aged 61+. Financial independence travels in the opposite direction. For platforms and providers, this is a practical challenge: design and messaging must reflect what matters to investors at key points in their lives. DECODING | Investor Goals DECODING | Investor Goals 7 8 1 . The search for growth in an era of uncertainty 1 . The search for growth in an era of uncertainty * Base size: total investors, n=13,249 Investment goals and barriers don’t just vary by age – they tell the story of a financial life unfolding as retirement takes centre stage. Fig 1.3: Motivations driving your decision to invest by age *
As people move past 50, the obstacles to investing change shape. We see a drop in concerns around access or understanding, and concerns about losing the money that has been built intensify. For older people, other barriers to investing also fall away. Concerns about paying off debts decline among those over fifty as they are more likely to be nearing the end of repayments on significant loans, such as mortgages. Likewise, the focus on building cash savings peaks among those in their 20s, but consistently declines as investors age and can concentrate more on investing, having built a cash buffer. By 50 , the barriers to investing narrow and harden. Fig 4: Stated barriers to investing more by age (% of investors) * Uncertain economic / political environment I don't understand how to invest / what my options are I am focused on building up cash savings I am focused on paying off debt 21-30 31-40 41-50 51-60 61+ 27 6 14 6 27 11 18 7 27 15 20 9 29 15 21 10 26 14 I don't earn enough 28 30 25 19 21 24 10 I am worried about losing money 31 29 30 30 28 DECODING | Investor Goals DECODING | Investor Goals 9 10 1 . The search for growth in an era of uncertainty 1 . The search for growth in an era of uncertainty * Base size: total investors, n=13,249
People with lower financial literacy are more likely to be confused about investing, distrust the industry, and avoid thinking about investments. Conversely, those with a higher financial literacy are more concerned with potential losses and the impact of geopolitical and economic volatility – potentially reflecting an increased awareness of risk. There remains a considerable opportunity for providers across the retail investor landscape to deliver accessible and engaging financial education to improve knowledge and understanding, while offering ongoing reassurance to increase confidence. 3 / 3 literacy 1 / 3 literacy 2 / 3 literacy 0 / 3 literacy 33 27 21 19 34 3 31 6 7 23 7 19 12 12 10 Fig 5: Key barriers to investing by financial literacy (% of investors) * 9 DECODING | Investor Goals 11 12 DECODING | Investor Goals 1 . The search for growth in an era of uncertainty 1 . The search for growth in an era of uncertainty 7 9 13 14 5 7 11 10 Financial literacy determines the need for reassurance versus the need for education. * Base size: total investors, n=13,249 I don’t understand how to invest / what my options are I don’t trust providers / platforms I don’t want to think about it finding the language and terminology confusing worried about losing money uncertain political / economic environment
While it is the most important barrier for both investors and savers, savers are significantly more likely than investors to highlight the risk of losing money as a barrier to investment. And these concerns are broadly consistent across financial literacy levels, suggesting that, without personal experience of investing, these savers may have an exaggerated perception of the risks involved. For providers, it is essential to tackle savers’ fear of loss, providing realistic information about investment risk. Loss aversion is the primary barrier preventing savers from investing. Fig 6: Reasons why savers are not currently investing * 11 % I don’t know how to start / what the first step is 16 % I don’t think I have enough money to start investing 39 % 30 % I’m afraid of losing money 19 % I prefer to keep cash savings for immediate access (Savers) 25 % I’m not interested in investing 21 % I believe investing is risky or speculative 18 % I don’t trust financial institutions or brokers of investors vs. DECODING | Investor Goals DECODING | Investor Goals 13 14 1 . The search for growth in an era of uncertainty 1 . The search for growth in an era of uncertainty * Base size: total investors, n=13,249 / all savers, n=4,574
The data shows us that investors are not disengaged, but at key moments they require targeted support and communication . Early on, education builds understanding. In later years, reassurance is just as important. The opportunity lies in delivering the right mix of education and reassurance at the moments when stakes rise and confidence matters most, with messaging targeting priorities and life stages . This means offering clear, realistic guidance on investment , and balancing this with information on the very real consequences of underinvestment. Key takeaway DECODING | Investor Goals 16 1 . The search for growth in an era of uncertainty
The retirement planning imperative 2 Around the world, personal savings and investments are now expected to be the top source of retirement income - outpacing both workplace plans and government provision. Reflecting the comparatively greater reliance on employer or state systems, European markets are less likely to expect to self-fund retirement – though across all markets people anticipate more than one third of their retirement income to come from their own personal savings and investments. The generational picture also evolves – among older age cohorts, nearer the point of retirement, the weight of retirement income moves more towards the state, as the reality sets in. Fig 7: Expected sources of retirement income by age (weighted global totals) * Fig 8: Top 5 % of retirement income expected to come from personal savings and investments by market (weighted totals) HKG JPN SGP MYS TWN 35% 30% 28% 27% 27% 61+ 51-60 41-50 31-40 21-30 29 % Total 25% 28% 29% 30% 30% 28 % 40% 42% 43% 43% 43% 42 % DECODING | Investor Goals DECODING | Investor Goals 17 18 54 % 53 % 53 % 53 % 52 % * Base size: total investors, n=13,249 The Government Own Savings & Investments Workplace Retirement Plans
Globally, only 36 percent of investors are motivated by the need to fund retirement, with significant variation by market – underscoring how unevenly retirement planning features in investor priorities worldwide. While investors’ focus on funding retirement increases steadily with age, retirement rarely becomes a dominant factor until investors are close to the point of transition. This highlights a persistent gap between long - term importance and near - term action, and a clear opportunity for earlier engagement with investors about retirement. Despite the focus on personal savings and investments, retirement is a secondary consideration for investors in many markets. Fig 9: % citing funding retirement as a key investment goal (weighted totals) * 44 % 61+ 51-60 41-50 31-40 21-30 43 % 36 % 34 % 27 % 36 % Global total DECODING | Investor Goals DECODING | Investor Goals 19 20 2 . The retirement planning imperative 2 . The retirement planning imperative Top 5 Bottom 5 European Average Asia Average 34 % 40 % 57 % KOR 49 % MYS 43 % SGP 41 % DNK 41 % SWE 30 % ITA 28 % BRA 26 % THA 25 % NED 22 % POL * Base size: total investors, n=13,249
Only around 1-in-4 investors globally who cite long-term financial security as an investment goal are very confident of achieving it – but there is a world of difference within markets. Fig 10: % citing “very confident – in funding retirement / ensuring long-term financial security” by market (weighted totals) * Fig 11: Median age (CIA World Factbook 2024) Brazil, India and South Africa stand out as strikingly optimistic markets, where youthful demographics and high growth expectations may be driving confidence ahead of underlying preparedness. In contrast, markets with older demographics, such as Japan, with a greater proportion approaching retirement, are likely to have some of the lowest levels of confidence in their long-term financial security. The overall picture, though, is fragmented. Much of the world’s investors remain far from convinced about their long - term financial security. BRA IND ZAF ARE THA CHN DEU GBR AUT BEL IRL NLD CHE MYS ESP POL SGP DNK SWE FRA ITA FIN KOR HKG TWN JPN 23 % 56 % +3 % +11 % Change compared to 2025 Global Total -1 % -1 % +7 % +15 % +10 % +11 % +1 % +9 % +9 % -3 % +2 % -5 % -8 % +3 % +2 % +3 % +3 % 0 % 0 % -3 % -1 % -1 % -5 % -9 % 50 % 50 % 40 % 36 % 34 % 30 % 28 % 26 % 26 % 25 % 23 % 22 % 22 % 20 % 20 % 19 % 15 % 14 % 12 % 12 % 12 % 12 % 10 % 6 % 2 % 49.9 47.2 44.6 35.1 30.4 29.8 Japan Hong Kong Taiwan Brazil South Africa India DECODING | Investor Goals DECODING | Investor Goals 21 22 2 . The retirement planning imperative 2 . The retirement planning imperative * Base size: total investors, n=13,249
One factor that has a significant impact on investors’ confidence as they approach retirement is whether they receive financial advice. Half of advised investors feel very confident about funding their retirement – more than three times the 14% recorded for those who have never accessed advice. Even occasional advice makes a measurable difference, with previously advised investors still outperforming the never-advised. The data suggests that advice doesn’t just improve outcomes – it fundamentally reshapes how investors feel about their financial future they are building toward. For providers and partners, the challenge is reaching investors earlier, before confidence erodes and before anxiety about retirement planning surfaces. The confidence levels in achieving long-term financial security fall as retirement approaches and the financial reality sets in. 31-40 21-30 41-50 51-60 61+ 35 31 24 16 15 2 1 2 2 4 2 1 2 2 2 13 13 19 24 21 49 52 53 54 59 Don't know Not at all confident Not very confident Fairly confident Very confident Fig 1.12: % citing confidence in achieving investor goal to “fund retirement / ensure long-term financial security” * DECODING | Investor Goals DECODING | Investor Goals 23 24 2 . The retirement planning imperative 2 . The retirement planning imperative * Base size: total investors citing funding retirement as an investment goal, n=4,556
Fig 13: Main retirement objectives (weighted global totals) * % stating “covering day-to-day essentials” % stating “grow my money as much as possible” Investors fear running out of money in retirement – and the closer they get, the more that fear takes hold. When asked what matters most in retirement, investors reveal a clear hierarchy of anxiety. Covering day-to-day essentials tops the list (43%), followed by making savings last (37%) and preparing for health costs (35%). Retirement, in most investors’ minds, is about the basics. The generational shift is striking. Investors curb their aspirations as they get closer to retirement and focus more on their basic needs. The desire to cover daily essentials during retirement rises from 36% among 21-30 year-olds to 49% among 51–60 year olds, as the reality of fixed-income living sharpens into focus. Conversely, the ambition to grow wealth falls among older age groups. Notably, the most financially literate investors are the most focused on essentials and longevity risk – suggesting that knowledge breeds realism over ambition. Cover day-to-day essentials Keep spending on leisure / activities Grow my money even if it involves more risk Avoid running out of money Preserve my capital Leave money for inheritance / charity Be prepared for health- related costs Help family financially while I’m alive Pay off remaining debts / mortgage 61+ 51-60 41-50 31-40 21-30 61+ 51-60 41-50 31-40 21-30 47 % 12 % 49 % 18 % 42 % 23 % 42 % 26 % 36 % 27 % DECODING | Investor Goals DECODING | Investor Goals 25 26 2 . The retirement planning imperative 2 . The retirement planning imperative 43 % 33 % 35 % 23 % 12 % 37 % 26 % 14 % 21 % * Base size: total investors, n=13,249
61+ 51-60 41-50 31-40 21-30 I prefer a mix: I manage some decisions, but I also want professional guidance / management 27 % 23 % 22 % 35 % 29 % 30 % 61+ 51-60 41-50 31-40 21-30 24 % I prefer choosing the investments myself and making changes myself 26 % 26 % 22 % 23 % 21 % DECODING | Investor Goals DECODING | Investor Goals 27 28 Across markets, the dominant preference is neither full self - direction nor full delegation, but selective involvement: staying engaged while using professional guidance for structure and reassurance. This preference is strongest in mid - life, when investors are most willing to share responsibility. As time horizons shorten, that balance shifts. Rather than uniformly handing decisions over, investors are slightly more likely to take greater ownership themselves. Investors want involvement but are hungry for support. Fig 14: Preferred approach for preparing for retirement (weighted global totals) * 13 % 13 % 11 % 7 % 4 % I want a professional / service to manage it end-to-end I want a ready-made / default retirement option that I can pick easily and mostly leave alone I’d rather save for retirement in cash / guaranteed savings than invest in financial instruments Don’t know It’s not something I want to deal with at this stage 2 . The retirement planning imperative 2 . The retirement planning imperative * Base size: total investors, n=13,249
The data shows us that investors who receive advice are multiple times more confident in their retirement saving than those who never do. The need and the opportunity is clear - broader access to advice and guidance on retirement savings, delivered earlier and more consistently. Because declining confidence is not a late - stage problem, it is an early warning signal. Helping investors recalibrate expectations earlier, rather than only when retirement becomes imminent, is where the greatest value lies. Key takeaway DECODING | Investor Goals 30 2 . The retirement planning imperative 2 . The retirement planning imperative
DECODING | Investor Goals DECODING | Investor Goals About this research Methodology and Sample Construction The findings in this report are based on the views of 13,249 retail investors surveyed across 26 countries spanning 4 continents. At a global and market level our survey data is weighted to ensure it is representative of investor age and gender profiles in each market. The survey was conducted online, in local languages, in March 2026. As a market leader in savings and investments, we commissioned H/Advisors to design and deliver the market research for this report, analyse the research findings and contribute to the report. H/Advisors are a leading consultancy firm, servicing clients in the financial and professional services sector. They provide integrated public policy and communications consulting, global thought leadership programmes and independent market research. H/Advisors UK - Home Savers Survey This year, alongside our global investor survey, we have spoken to 4,574 savers across 12 markets (see ‘Savers’ column in the table). We define savers as those who have savings held across cash savings, bank deposit accounts and savings accounts, but no forms of investable assets. The survey was conducted online, in local languages in April and May of 2026. We set quotas on age and gender to ensure that we have a representative view of savers. Definitions (1) Financial Literacy - Scores (out of three) across the “big three” financial literacy questions, created by Dir. Annaaria Lusardi and Prof. Olivia S. Mitchell. Details of the specific questions can be found here (2) Wealth – Retail Investors (up to €60,000 investable assets) / Mass Affluent Investors (€60,000 - €300,000 investable assets) / Affluent Investors (€300,000 - €1,200,000 investable assets) / High Net-Worth Investors (more than €1,200,000 investable assets) (3) Household Income – Low (up to €48,000) / Medium (€48,001 - €96,000) / High (more than €96,000) Market Sample Male Female 18-20 21-30 31-40 41-50 51-60 61+ Savers AUT 512 66% 34% 4% 14% 15% 14% 16% 37% - BEL 508 59% 41% 4% 16% 17% 18% 12% 33% 208 BRA 513 49% 50% 9% 28% 23% 16% 13% 11% - CHN 517 53% 47% 2% 10% 41% 23% 21% 3% - DNK 518 70% 30% 3% 12% 13% 12% 16% 43% 418 FIN 503 61% 39% 3% 14% 17% 16% 15% 34% - FRA 502 52% 48% 3% 13% 17% 18% 13% 36% 414 DEU 508 68% 32% 5% 18% 18% 17% 11% 32% 418 HKG 509 59% 41% 1% 4% 23% 25% 16% 32% 420 IND 509 65% 35% 5% 23% 28% 21% 13% 10% - IRL 518 65% 35% 6% 19% 19% 19% 12% 26% - ITA 509 65% 35% 3% 13% 16% 19% 13% 36% 416 JPN 505 78% 22% 1% 5% 9% 16% 23% 45% - KOR 505 68% 32% 0% 9% 21% 26% 30% 13% - MYS 509 58% 42% 2% 16% 24% 22% 17% 19% - NLD 519 68% 32% 4% 18% 21% 20% 11% 26% 205 POL 510 68% 32% 5% 21% 25% 18% 9% 23% - SNG 507 63% 37% 4% 14% 24% 23% 23% 12% 418 ZAF 506 46% 54% 10% 32% 25% 18% 11% 3% - ESP 507 64% 36% 3% 11% 16% 20% 14% 37% 416 SWE 509 53% 57% 2% 8% 14% 16% 18% 41% 412 CHE 508 70% 30% 3% 12% 17% 18% 17% 33% - TWN 502 61% 39% 2% 12% 17% 20% 18% 30% 420 THA 519 56% 43% 8% 27% 22% 21% 19% 3% - UAE 505 59% 41% 4% 15% 38% 25% 12% 6% - GBR 508 56% 43% 4% 15% 17% 16% 11% 36% 409
DECODING | Investor Goals Investor Confidence & Knowledge DECODING 2026 Marketing Communication What’s Next? At Amundi, we are committed to providing valuable insight to our partners. Retail investing has been overhauled in the last decade, but as our research finds, there are clear and established retail investor habits, motivations, and desires globally. If you would like to find out more, or ask us a specific question about our global retail investor study, please reach out: Teresa Santos Client Insights Analyst teresa.santos@amundi.com Miriam Oucouc Global Head of Client Experience & ETF Marketing miriam.oucouc@amundi.com Bethany Morris Head of Client Insights & Innovation bethany.morris@amundi.com Ashleigh Cowie-Jackson Client Engagement Lead ashleigh.cowie-jackson@amundi.com Bertrand Fontaneau Client Insights Manager bertrand.fontaneau@amundi.com WWW.AMUNDI.COM
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