Saving for your retirement is a lifelong undertaking – and if you want to enjoy a comfortable retirement, you can’t start planning soon enough. The more you contribute to a pension now, the better chance you’ll have of that money growing and funding your retirement in later life.
Why do people look to property as part of their retirement plans?
One attraction to investing in bricks and mortar in retirement is being able to see the physical asset, which you can’t in the same way with a pension. The most senior economist in the UK – Andy Haldane from the Bank of England – stated his preference for property investment as the best way to save for retirement, sparking a debate about whether property or pension was the best route 2 years ago.
For many, property investment is one aspect of their savings strategy for retirement and, for those who have already stopped working, an attractive way of supplementing their income.