Moneyspider in the News

Silver surfers take the net by storm

Sixtyplusurfers.co.uk 

Grey power is a force to be reckoned with, as techno-savvy silver surfers now increasingly sort out their money matters online. Millions of 55-plus Brits are now surfing the net via their keyboards and taking control of their own financial destiny, according to investment data firm moneyspider.com 

Over half of the 5.25 million UK silver surfers are now logging and researching their and investment options through sites moneyspider.com. And the data research company predicts this figure will rise sharply over the next few years as more 'grey hairs' are gaining confidence in using the net. 

Internet banking, financial product comparison tools and information on funds, shares, and savings are at the top of the surfing list of senior citizens who own over two-thirds of the nation's personal wealth. 

Silver Surfers - The Facts 

• Definition: An internet-savvy person aged 55 years plus who surfs the web and spends time online.
• 15 million people are aged 55 and over in the UK (Office of National Statistics, 2007)
• 35% of people over-55 are using the net on a weekly basis (Office of National Statistics, 2007)
• Over half of all silver-surfers (53%) use online banking and financial sites (EIAA Silver Surfer Report, 2007)
• Half of over-50s reckon life without the net is unimaginable

'Turning to the internet instead of telephone or face-to-face financial advice gives people independent evaluation and comparison tools that enable to take charge of their finances and make more money,' says Moneyspider.com's Tony Ahearne. 'With the internet the financial world is your oyster and you don't even have to leave your home to find the best deals and the most valuable sources of financial information,' he adds. 

Moneyspider.com, which compares the performance of all 2,000 or so funds and provides a unique fund ratings and sector comparison tools updated daily, is a very popular website with the over 55 group. 

'Many of our members are pensioners who since becoming retired have the time to keep a much closer eye on their investments' performance and ratings. In fact, man of our older members check their funds on a daily basis,' adds Ahearne.