Find out the results of the third edition of our “Decoding Investors” study, focused on retail investors and savers. Conducted in 26 countries among +17,500 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.
Amundi study finds retirement confidence gap as savers stay in cash
We have published the third edition of our “Decoding Investors” study, based on responses from +17,500 people across 26 countries. The research explores the goals, concerns, behaviours and information sources shaping the investment decisions of retail savers and investors worldwide.
The findings point to a growing retirement challenge: people today expect to fund a significant share of their retirement income with their own personal savings and investments, but many do not feel motivated to turn their savings into a long-term investment plan.
Retirement is the top goal — but confidence remains low
The study shows that investors expect personal savings and investments to cover 42% of their retirement income, ahead of state pensions and workplace schemes. The reliance on personal savings is even more pronounced in Asia, where respondents expect to fund more than half of retirement from their own assets.
Yet retirement is not translating into confidence. Only 36% of investors say retirement is a key reason for investing — 34% in Europe and 40% in Asia — and just 23% feel very confident about achieving long-term financial security.
The gap narrows sharply when professional advice is involved. Half of advised investors say they are very confident about funding retirement, compared with only 14% of those who have never received advice.
Many savers want to invest — but fear is holding them back
Amundi’s research suggests there is strong appetite to invest, but hesitation remains widespread.
Nearly half of savers — 43% — expect to start investing within the next 12 months, rising to 62% among 21-30-year-olds. However, 39% say they are still prevented from taking the next step by a fear of losing money.
The study also highlights how this caution can translate into excess cash holdings. While a majority of savers say an emergency fund of less than six months’ income is sufficient to cover unexpected expenses, many are keeping far more cash than they need rather than putting money to work in markets.
Financial literacy still trails confidence
One of the study’s clearest findings is the mismatch between perceived and actual financial knowledge.
A quarter of retail investors (25%) describe themselves as beginners. And among those who see themselves as confident or expert, the level of financial literacy is worryingly low: only three in ten self-described experts can answer three basic financial literacy questions correctly.
AI and influencers are now part of the investment toolkit
The study also points to a rapid shift in how investors seek information.
Regular use of AI assistants for investment ideas or information has risen sharply, with usage quadrupling in 2026 to 19%. More broadly, seven in ten investors have used AI at some point to support investment decisions, and 59% say they have acted on its recommendations. Almost all of those users (90%) report being satisfied with the outcome.
Social media is also playing a growing role. Nearly one in two investors (46%) say they seek investment information from influencers. Still, these channels appear to complement rather than replace traditional guidance as typically the use of influencers and AI is higher amongst people who have professional advice. Moreover the professional advice they receive is increasingly hybrid, with 59% of those who have professional advice receiving it online.
Amundi calls for stronger education and hybrid support
Commenting on the findings, Fannie Wurtz 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 hybrid 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.
