Unprecedented numbers of people are making huge changes to their lives despite economic uncertainty, changing work patterns and less job and financial security, according to a new report.
The report by think tank Britain Thinks and commissioned by Investec Click & Invest describes the trend of more people making radical changes to take control of their lives as ‘resetting’.
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The report revealed that over one third of the British population have already ‘reset’.
A further 32% of the population are planning to make major adjustments, such as changing to a more rewarding career, setting up a new business or even turning a hobby into a profit-making venture, in the next five years.
According to the report, approximately one third (30%) of existing ‘Resetters’ have created their own business, while 22% have made a hobby pay — a new group of entrepreneurs the report calls ‘Hobbypreneurs’ — and around 30% have changed careers to do something more rewarding.
This trend has become prominent in light of increased uncertainty, a post General Election snap poll conducted as part of the analysis revealed.
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By GlobalDataAround 85% of the population would now 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.
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.”
Investec Click & Invest, the new online investment management service for individuals with £10,000 or more to invest, was unveiled in June 2017.
