02 Sep Property wealth exceeds savings and pensions
Property wealth exceeds savings and pensions
69% of over-45 homeowners say that their home is worth more than their pensions, savings and investments combined, research by Aviva has found.
Important findings: –
- 46% see their property wealth as a key part of their retirement income
- 23% are worried about paying off their loans
- 33% do not think they will have paid off their loans by the time they reach retirement age
- 56% think that their property wealth will be needed for care costs later on.
Clive Bolton, managing director of retirement solutions at Aviva UK Life, said: “These findings suggest we are starting to see a shift in attitudes towards
“These findings suggest we are starting to see a shift in attitudes towards wider use of property to help fund retirement, as well as providing a place to live.
“Property assets more than match pension wealth for many older homeowners, so it is sensible to consider bricks and mortar among the options to supplement their savings.”