28 Aug

People should have "a balance" of investments to fund retirement

People should have "a balance" of investments to fund retirement

Homeowners should look at investing in a range of products to fund their retirement rather than relying solely on their property, according to one property expert.

Paul Goodwin, head of pensions marketing at Aviva, the largest insurance services provider in the UK, said that it is "wise" to have a balance of investments because banking on a single asset can result in problems if it falls in value.

His comments follow the publication of research from Lincoln Financial Group, which showed that 48 per cent of pension holders claim to rarely review their pension once money is invested.

"As long as you are relying on one particular asset you have issues around the value of that asset, as some people have noticed with property values falling," stated Mr Goodwin.

He added that there is also a liquidity issue in that while people might want to retire at a particular point in time, it can be difficult if they are then unable to sell their property.
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