DIY Investor Magazine
| Oct 2017
40
STUDY IDENTIFIES A GROWING NUMBER OF ‘RESETTERS’
SEEKING GREATER CONTROL OF THEIR LIVES AND ON THE
ROAD TO FINANCIAL INDEPENDENCE
A new report launched today by Britain Thinks and
Investec Click & Invest, reveals unprecedented numbers
of people are making huge changes to their lives
because they have greater confidence in their own
abilities, despite economic uncertainty, changing work
patterns and less job and financial security.
This has fostered a stronger ‘can do’ attitude in society,
and the report describes this trend of more people
making radical changes to take control of their lives as
‘Resetting’ and says there is no age limit to this. Over
one third of the British population have already ‘Reset’,
and a further 32% of the population are planning to
make major adjustments in the next five years, such as
changing to a more rewarding career, setting up a new
business or even turning a hobby into a profit-making
venture.
However, a post General Election snap poll conducted
as part of the analysis shows that this trend has become
even more pronounced in light of increased uncertainty.
85% of the population now say they would like to have
even greater control over their future, and over half
(56%) are now likely to make a major change in the next
five years.
Almost one third (30%) of existing ‘Resetters’ have set
up their own business and a further 22% have made a
hobby pay – a new group of entrepreneurs the report
calls ‘Hobbypreneurs’. A further 30% have changed
careers to do something more rewarding. They are
also much more focused on financial planning and
investments than the population as whole.
Commenting on the report, Viki Cooke, Founding
Partner of Britain Thinks, said: ‘Our research identifies
that across the population there is a move towards
empowerment as people recognise that in a world of
increasing uncertainty, they need to take control of their
lives and ‘Reset’. This has implications for work and
careers, lifestyle and financial planning. We see this as
a societal trend which is set to continue.’
Jane Warren, CEO of Investec Click & Investec said:
‘We commissioned this report to ensure that we really
understand the way our clients are thinking.
What is exciting is that people are approaching their
futures in a positive, planned and strategic way to
ensure they live their lives the way they want to. This
includes carefully and considered financial planning and
decision-making.’
Andrew Summers, Head of Collectives at Investec
Wealth & Investment, highlights the benefits to UK PLC
of the report’s findings: ‘Small businesses have long
been the engine room of the UK economy, so the fact
that more people are taking control and setting up their
own enterprises is likely to have a positive impact across
all sectors’.
POSITIVE ATTITUDE TO TAKING CONTROL
The research reveals that across the population, there is
a very positive attitude to making fundamental changes
to the way we live our lives:
79% agree ‘there’s no age limit on making a big change
to your life’
79% agree ‘I’d rather do something I love than
something well paid’
75% agree that ‘gaining life experience is more
important to me than material wealth’
This is against a backdrop of huge political and
economic uncertainty around Brexit, changing
expectations of work with almost three quarters of
respondents (71%) recognising that there is no such
thing as a ‘job for life’.
