One in three high earners admit bluffing major investment decisions

When it comes to investing, Britain’s high earners look confident on paper – but new data tells a different story.

While more than eight in ten (82 per cent) say they feel confident making investment decisions involving six-figure sums, nearly a third (30 per cent) admit they have pretended to understand a major investment decision – despite not fully grasping what they were dealing with.

That gap has consequences. Some 30 per cent say they have made investment decisions involving £10,000 or more that they later regretted. And of those, almost half (47 per cent) lost money.

The new data, from wealth platform Sidekick, reveals a stark contradiction when it comes to investing: high income does not automatically mean high financial confidence.

And according to the figures, this tension tends to surface at a very specific moment – when investing stops feeling casual and starts feeling consequential. On average, that shift happens at age 33, or when portfolios reach around £51,000.

Matt Ford, CEO and co-founder of Sidekick, said: “What stands out in this research is that there’s a confidence illusion at play. On paper, high earners feel capable – and many are. But when the sums become meaningful, the emotional weight changes.

“There is a clear shift when money stops being something to “dabble” with and starts demanding genuine time, focus and understanding. Suddenly, the question stops being ‘how do I start investing?’ and becomes ‘am I making the right decisions at this scale?’ Whilst income can rise quickly, it’s evident that confidence often doesn’t.”

Bonuses, pay rises and the pressure spike

The research shows this tipping point is rarely random. It is usually triggered by moments of upward momentum.

Receiving a large bonus (44 per cent) is the most common catalyst, followed by a significant pay rise (41 per cent). Around a third of respondents (31 per cent) say the shift came when they realised their balances had grown beyond what felt comfortable to manage alone.

And while 64 per cent describe receiving a significant lump sum as exciting, around one in seven report feeling overwhelmed or anxious about making a mistake (14 per cent).

Indeed, despite earning well, anxiety remains widespread. More than eight in ten high earners (82 per cent) say they feel anxious about their financial future at least occasionally.

As balances grow, so does the complexity of decisions. More than half (53 per cent) say determining the right level of risk becomes harder as their finances grow more complex, and nearly a third (32 per cent) say they have felt their money has outgrown the platform or tools they were using – reinforcing the sense of being caught in an “in-between” stage: too complex for entry-level investing apps, but not aligned with traditional private banking.

Ford added: “What we see isn’t recklessness – it’s friction. People are earning well and taking their finances seriously, but they’re unsure whether their current setup still fits.

“That uncertainty is where hesitation, second-guessing or rushed decisions creep in. When portfolios reach a certain size, structure, risk and fees matter more. Investing stops being passive and starts requiring deliberate oversight.”

From advisers to TikTok

When money gets serious, high earners are prepared to put in the time looking for answers.

Most still turn to financial news websites (65 per cent) and advisers (58 per cent). But, in an increasingly digital era, the search for clarity extends elsewhere. Almost a quarter (24 per cent) say they use AI tools, and 30 per cent use social media platforms – with TikTok among the most cited – when seeking financial guidance.

That widening information mix reflects a simple reality: when the sums become meaningful, people want reassurance. But Ford adds: “Social media and AI can be useful starting points. But they shouldn’t replace considered judgement. When you’re making decisions involving tens or hundreds of thousands of pounds, clarity and structure matter more than noise.”

Matt Ford’s advice when money gets serious

• Recognise the tipping point. A bonus, promotion or portfolio milestone should prompt a strategy review.
• Reassess your risk tolerance as balances grow – emotional reactions often change with scale.
• Make sure your tools and structures match the complexity of your finances.
• Avoid rushing large decisions under pressure.
• Prioritise transparency on fees, structure and risk.