Piggybank News

April 24, 2012

Does Property Investment make a good pension plan?

A survey by the National Landlords Association (NLA) has found 81% of landlords expect to rely on their portfolio to help them financially after they stop working.  As confidence in the economy slumps to an all-time low an increasing number of people are looking to property investment as an important part of their post-retirement income.

Over the last 10 years the number of savers contributing to pensions dropped by 8%. David Salusbury, Chairman, National Landlords Association, commented: “Landlord confidence in the financial market is at an all-time low. This combined with record low interest rates means that many individuals are looking for alternative ways to secure their financial future. Private-residential property can be a sound long-term investment for those planning their retirement. But potential landlords must realise that letting property is a lot more complicated than contributing to a pension.”

(Piggy says “Property investment can offer security for the future if it is done properly; but like any other small business it is important to get the right advice and ensure that you assess the risks as well as the possible advantages”.)

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