Monday, March 3, 2008
This could well spark a big sell off…….
''Homeowners are being warned they face an impoverished retirement if they rely on their property as their sole pension. Increasing numbers of people claim to be planning to use their home to fund their retirement rather than saving into a fund. But research by insurer Standard Life shows that, on average, downsizing from the family home to a smaller property during retirement would provide a pension worth just 16% of average earnings.''