Aviva recommends balancing investments for retirement

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Aviva recommends balancing investments for retirement

Aviva has recommended balancing investments in preparation for retirement, rather than only relying on property as a source of income.

Paul Goodwin, head of pensions at the financial services provider, explained that if one asset provides all of your earnings, then any fluctuation in its value will have a large effect on your potential return.

He commented that people may have noticed this with the fall in property prices.

"There is also a liquidity issue in that you might want to retire at a particular point in time, but what do you do if you can't sell your property," he said.

Mr Goodwin suggested equity release and annuity as two possible options for turning a property into an "income-generating asset".

Research by Baring Asset Management released earlier this month indicated that pension pots in the UK had lost £29 billion because of the drop in house prices.

It also showed that 8 per cent of the population plan to fund their retirement through their property.

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