- While personal savings become the main expected source of retirement income, only 23% of investors feel very confident about their long-term financial security.
- Nearly half of savers expect to start investing within the next 12 months, but just as many remain held back by the fear of losing money and continue to sit on excess cash rather than entering markets.
- One in four retail investors consider themselves beginners. And among those who describe themselves as confident or expert, seven in ten have limited financial literacy. Education and guidance therefore remain essential.
- Professional advice, sought by 60% of investors, remains central and is being complemented by new practices: 70% of investors use AI to help inform their investment decisions, and nearly one in two seek information via influencers.
Amundi, Europe’s largest asset manager, publishes today the results of the third edition of its “Decoding Investors” study, focused on retail investors and savers. Conducted in 26 countries among 18,000 people, the study analyses their objectives, fears, behaviours and sources of investment information.
The 2026 edition shows that retirement sits at the centre of investors’ concerns, but that many lack the confidence and knowledge needed to turn savings into long-term investment plans.
Funding retirement: a clear priority, but with a gap between intent and confidence
Personal savings and investments are now the largest expected source of retirement income, with investors hoping they will fund 42% of their retirement pot, ahead of state provision and workplace pensions. This is higher in Asia with investors across the region expecting to fund more than 50% of their retirement from personal savings and investments.
Despite this, only 36% of investors cite retirement (34% in Europe vs 40% in Asia) as a key motivation for investing, and of those, just 23% feel very confident of achieving long-term financial security versus 26% a year before. This highlights a clear gap between the importance investors attach to retirement and their ability and confidence in being able to fund it.
Professional advice makes a significant difference to how confident investors feel about retirement: half of advised investors say they are very confident about funding their retirement, compared with just 14% among those who have never accessed advice.
The confidence gap is keeping savers in cash
The study shows that nearly half (43%) of savers expect to start investing within the next 12 months (a figure that rises to 62% among 21-30-year-olds), but 39% are still held back by the fear of losing money.
The intention to invest varies considerably by country: Danish savers lead the way (79%), followed by Singaporeans (73%), while Belgians and Germans are the least likely to show interest in taking the leap (24%).
In practice, this often means staying in cash for longer than necessary rather than participating in capital markets: for a majority (52%) of savers an emergency fund of less than six months of income is enough to buffer for unexpected expenses, yet, most are holding far more cash.
Financial literacy: belief vs reality
Beyond confidence, financial literacy also plays a crucial role. The study highlights a stark contrast between investors’ confidence and their actual level of financial knowledge: 70% of those who describe themselves as “experts” failed to answer three basic financial literacy questions correctly.
The pattern is most pronounced at the top of the wealth ladder. High-net-worth investors, while the most confident, had the lowest literacy rates, with only 36% answering all three financial literacy questions correctly. However, they are also the most likely to seek advice from professional advisers (87%), versus 58% among retail investors.
AI and social media usage are rising, but professional advice remains essential
In just one year, regular use of AI assistants as a source of investment ideas or information grew four-fold in 2026 to reach 19%.
Most strikingly, seven in ten investors have previously used AI to help them make investment decisions. More than half of them (59%) have acted on its recommendations, and almost all of them (90%) say they are satisfied with the outcome.
But investors are also turning to social media: nearly one in two investors (46%) seek investment information via influencers. This is particularly the case in India (68%) and Brazil (65%), while European countries such as France (28%), Spain (37%) and Germany (40%) remain behind.
These new sources of information do not replace professional advice, they rather complement it by helping investors confirm ideas or validate recommendations. More than 60% of investors claim to have access to at least some professional financial advice, which is increasingly delivered through digital means, with 59% of respondents now receiving all or part of their advice online.
Fannie Wurtz, Amundi’s Deputy General Manager, Head of Clients Group said: “While funding retirement becomes a central concern for households globally, the third edition of our Decoding Investors study highlights a pressing challenge: helping more savers become investors and enter capital markets. For our industry, this means strengthening trust, improving access to investor education notably through digital channels and offering simple, transparent and accessible solutions. Drawing on its expertise, Amundi supports its clients in meeting this challenge through investment solutions, technology tools and support tailored to the long-term needs of saving.”
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