Just under two thirds (61%) of those in the UK said investing is confusing and difficult to understand, up from 44% in 2015.
This is according to Columbia Threadneedle Investments’ Investor Confidence Tracker.
The research also found that 74% would choose an investment that is simple and easy to understand, than something they do not fully understand, even if it may deliver lower returns, again up from 68% in 2015.
At the same time 75% of women found investments confusing compared to 57% a decade ago.
The proportion of people who avoid investing any of their savings altogether has barely moved since 2015 (40% in 2015 vs 37% today).
This is despite the average monthly amount saved rising from £354 in 2015 to £480 today.
In general, women continue to fall behind men with 45% not investing anything at all, compared with 29% of men.
Columbia Threadneedle Investments head of direct Ross Duncton said: “The number of people who don’t invest in stocks and shares remains high – with little change over the last ten years. Over the same period, we’ve seen significant market growth – meaning millions of people may have missed out on potential returns, and recently high inflation has eroded the value of their cash savings.
“Regardless of any potential Isa reforms on the horizon, the key will be ensuring savers of all ages and stages feel confident when it comes to investing and have a better understanding of the benefits, alongside the risks, of long-term investing in the stock market.
“Our research shows that there is no one silver bullet to bridge the confidence gap between cash savings and investing, but ongoing efforts to provide clear, simple, consistent and accessible guidance remains crucial.
“The findings also point to the importance of financial education starting at an earlier age, alongside more open conversations to help build confidence and knowledge.”
Duncton added that anyone looking to take their first step with investing, should consider opening a Stocks and Shares Isa.
In order to obtain these results, YouGov spoke to 2,021 adults during March to April 2025.