Of course there are always exceptions, but it seems that the internet has made the generation gap even wider.
You might be interested in this breakdown of ‘recent internet usage’ by age.
As you might expect, younger people seem to use the internet more often.
- 99% of people aged 16 to 34 years old reportedly used the internet recently1
By contrast, over 75s use the internet far less, although this is changing.
- In 2016, 38.70% of people aged 75 years and over were recent internet users (for women aged over 75 it was even less, at 32.60%)1
- In 2018, the percentage of people aged 75 years and over who were recent internet users rose to 44%1
What this means to us
One of the biggest questions we face as a firm is the best way to communicate with our clients.
For example, the data above shows that our web presence and online communications aren’t reaching most over 75s. That’s important information for us to be aware of.
At the other end of the spectrum, people reaching adulthood in the early 21st century are termed ‘millennials’. It has been reported that:
- Millennials are twice as likely to use mobile phones compared with the older generation2
- Almost half of UK millennials want to do their financial planning on a smart phone2
We have traditionally given financial advice face- to-face, so this trend poses a new challenge to us.
What this means to you
Hopefully, this article shows that we make every effort to keep up to date with trends so we can adapt our service offering to suit individual needs.
You can be assured that we aim to look after your best interests, not just financially, but also in how we deliver the service. As financial advisers, we want to communicate with you in your preferred way, on your preferred platform.
We’d be interested in hearing what you think. You can communicate with us however you want – via email or phone, sending a traditional letter, or even by carrier pigeon!
At Monetary Solutions Ltd, you can book a free initial consultation about any financial matters, so please call us on 020 8655 8488.
1 Office for National Statistics
(20 May 2016 and 31 May 2018)
2 Independent (5 June 2017)
Allowances, limits and thresholds correct at the time of writing, but are subject to change in the future. Please confirm the current position before taking any action