Savers urged to use `cross-section` of assets
By myfinances.co.uk staff
Savers looking to build up a nest egg for their later years should use a "cross-section" of assets to maximise their potential returns, according to one expert.
Aviva head of pensions Paul Goodwin said the recent economic downturn had highlighted that people should not "put all of their eggs in one basket" when it comes to investing for the long term.
His comments follow a recent survey by the insurer which showed that before the recession hit, 80 per cent of savers thought putting their money into property was a better bet for the future than contributing to a pension fund.
In the aftermath of the recession, however, 76% said relying solely on the rising value of bricks and mortar to provide their income in retirement is too risky.
The survey also found that people have been alerted to the importance of building up savings from an early age in order to ensure an adequate income to support their lifestyle after they finish working.
As a result, 47% of respondents said encouraging their children to contribute to a pension has become a top priority.
Comments
Newsletter sign up