LV= : Most over 50s have not taken advice about retirement
www.moneynews.co.uk > Pensions > LV= : Most over 50s have not taken advice about retirement
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LV= : Most over 50s have not taken advice about retirement
Thu 3rd Jul 2008
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A survey by the retirement specialist found that most people over the age of 50 have taken no professional financial advice, while 70 per cent admitted being unsure about the relevant legislation.
Of those who have sought advice, an independent financial adviser (IFA) is the most popular option, with 49 per cent of people visiting one.
ISAs were found to be the most popular topic for those seeking financial advice.
Rodney Cook, LV= life and pensions managing director said that retirement is set to be an area of growth in the financial advice industry as longevity increases.
He said it was "vital" for people to use professional advice to maximise their retirement wealth and provide for their old age.
A third of Britons in or near retirement still owe mortgage debt totalling £207 billion, a new report from Key Retirement Solutions has found.
The research, covered by the Financial Times, showed a 20 per cent rise year on year in the average amount of mortgage debt by people at retirement age.
Related News : Pensions |
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Related News : General finance |
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