Half (46%) of younger HNW investors shared their concerns about rising inflation, according to the Saltus Wealth Index.

Almost two thirds (58%) of HNW investors said their money ‘makes them anxious’, with twice as many over-55s feeling anxious than six months ago (18%).

Less than a quarter of over-65s said they feel confident in the future of the UK economy and their own wealth.

Whilst respondents generally felt confident about their own finances over the next six months (85%), amongst older investors this dropped to a half.

Investors also continued to see the Coronavirus pandemic (30%), exchange rates (25%), cyber security (25%) and geopolitical risks (22%) as a threat to their finances.

Michael Stimpson, partner at Saltus, said: “This is the group of people whose intelligence and enterprise the UK will need as the country addresses the challenges of Levelling Up and Climate Change, quite apart from paying down the country’s debt and financing its deficit. This research has revealed that most HNWIs have concerns about their money right now, with a majority saying their money makes them feel anxious.

“There are a number of factors causing these feelings of unease, with the impact of rising inflation the key concern, especially among older people whose fears about how it will affect their retirement plans highlights more than ever the importance of having a robust financial plan in place.”

The Saltus Wealth Index surveyed attitudes of 1,000 UK investors with investable assets over £250,000 between 28 February and 15 March.