| Financial Imposter Syndrome stops millions from investing despite having resources | Underinvesting is driven by confidence, not income or financial knowledge | Seeing yourself as an investor builds confidence and improves long-term outcomes |
Much has been made of the need to get more people investing for their long-term futures. Savers are leaving too much money sitting idle in low yielding cash savings accounts, when evidence shows that money would be better off invested for the long-term.
However, new research has identified what may be holding people back from doing just that. Financial Imposter Syndrome (FIS) is a widespread psychological barrier, affecting three million UK adults, with a further five million showing symptoms1.
Much like imposter syndrome in the workplace, FIS is the inner voice that makes people doubt their financial capability, attribute success to luck or help from others, and prevents people making positive financial decisions at crucial stages due to a lack of confidence, not resources.
The cost is both emotional and economic. Twenty per cent of adults feel unprepared for the future, and nearly a quarter fear they won’t have enough for retirement, and yet only 10% of the population currently use a financial adviser.
This affliction is not just a low-income issue either. Almost 24% of people earning £80,000 or more show signs of it. High earners often describe feeling they should know more or be doing better with their money.
Despite this research, the problem of underinvesting by the nation still persists and as a result the government is looking to get more people investing with a nationwide marketing campaign due to launch in 2026. What these figures do reveal is a profound identity gap. People see ‘investing’ as something other people do – something complex or risky – rather than something that already happens quietly through their pension.
However, the evidence shows that when a person does consider themselves as an investor, they feel more confident about money overall (79% v 69%). This study reveals that when people have had financial success in the past, those who consider themselves investors are more likely to attribute this to their own money skills (46% v 29%).
Investing breeds confidence and has the potential to transform people’s long-term savings for the better.
To help shift that mindset, there are a number of practical ways to overcome Financial Imposter Syndrome and form positive investing habits from an early stage.
How to move from a saver to an investor
- Remember long-term saving, such as a pension, is already investing
- Start small and build confidence in a way that works for you
- Rather than consider monetary goals, connect investing with life goals – home ownership, retirement comfort, education funds
- Emphasise time over timing: steady participation beats perfect prediction
- Build accountability by sharing your goals with a friend, partner or adviser. Talking about money normalises it and keeps plans on track.
1Quilter, Financial Imposter Syndrome, October 2025
It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored advice and is for guidance only. Some rules may vary in different parts of the UK.
