In addition, the research also found that the under 35 age group is more likely to put all their savings in investments, without thinking it through.

Although this could prove beneficial over the long-term, he warned the younger generation to stop and think for a second.

“Throughout the pandemic we’ve seen younger investors getting involved in higher risk investments,” he said.

“So it is important there is an understanding of the risks involved, including from the threat of scams.”