For many Romanians, the first step toward investing begins with a financial safety net. According to the latest ING Research study on savings and investment behavior, conducted by Ipsos, more than half of respondents (51 percent) say they find it difficult or barely manage to cover their current expenses, a higher percentage than the European average (44 percent). However, nearly half believe that a very large financial reserve is not necessary to start investing; 46 percent believe that a financial reserve of less than half of the household’s monthly income is sufficient.

As for actual investments, only 29 percent of Romanians currently invest in stocks, bonds, mutual funds, or ETFs, compared to 41 percent across Europe. At the same time, 30 percent of respondents in Romania say they have never invested but might do so in the future.

“The results suggest that the challenge is not to convince people to invest, but to reduce the barriers that prevent them from doing so. For many Romanians, investing becomes an option only after they have built up a financial reserve and gained a better understanding of the risks, costs, and available alternatives. There is a willingness to invest, but this depends largely on the level of financial security people feel they have. At the same time, investing should not be viewed as a step reserved exclusively for those with significant financial resources. Building a safety net remains essential, but participating in investments can begin gradually, with amounts tailored to each person’s means. What matters is not only the size of the initial capital, but also the long-term perspective, which allows one to capitalize on the compounding effect over time,” said Valentin Tătaru, chief economist at ING Bank Romania. 

Insufficient savings, risk, and a lack of information are keeping Romanians from investing

40 percent of respondents say they have too few savings to invest, 35 percent cite fear of risk, and 33 percent cite a lack of knowledge about investing. There are two factors that could increase interest in investing:

• Nearly half say that access to lower-cost or simpler products would encourage them to invest.
• About half of Romanian respondents would be open to consulting a professional for investment information: 48 percent would consult a specialist to understand investment concepts, and 47 percent to compare products.

“Many Romanians understand that simply saving money may not be enough to achieve their long-term financial goals, but they need more confidence and clarity before taking the first step. That’s why it’s important to make investing more accessible, easier to understand, and easier to integrate into everyday life. “With the right information and simple tools, investing can become a realistic option for a much broader segment of people than is currently believed,” said Mihai Lazar, Tribe Lead Investments, ING Bank Romania.

Romanians Seek Security, but Also Understand the Risk of Inflation

Romanians seem to be seeking a balance between protecting their savings from the effects of inflation and a preference for lower-risk investments. 61 percent of respondents would prefer a safe investment with a lower return over a riskier one with higher potential returns. At the same time, 6 out of 10 agree that not investing carries a risk, given that savings can lose their value due to inflation. Furthermore, 51 percent say they would be willing to keep a portion of their savings invested for several years, even if its value were to fluctuate in the meantime.

The perception of risk still remains a challenge: 46 percent of respondents say they would be tempted to sell if their investments lost 10 percent of their value over a period of several months.

One-third of Romanians expect their state pension to cover their needs

69 percent of Romanians believe that the public pension system is under pressure and that, in the future, it may no longer provide the same level of income as it does today, while 65 percent consider it important to prepare financially for retirement, given the uncertainty surrounding pensions.

However, 37 percent expect their total retirement resources to be sufficient, while only 1 in 3 Romanians believes that the state pension will cover their needs throughout their retirement.

Gold Ranks First in Perceived Returns

Romanians’ perceptions of various asset classes also reveal a strong preference for familiar investment instruments. 58 percent of respondents believe that gold will offer the best returns over a ten-year horizon, followed by savings accounts, cited by 37 percent.

28 percent of respondents believe that stocks or stock funds can offer the best returns over a 10-year horizon. In terms of risk, 59 percent of respondents consider cryptocurrencies to be the riskiest option.