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Retirement 'must be funded by multiple sources'



Over 50s have been advised to ensure they are not relying on a single source of income to fund their lifestyle needs during their retirement years.

Recent research from Baring Asset Management has revealed that 2.8 million Britons are reliant on their property to finance their retirement, with 74 per cent of those having neglected to make any alternative plans in the last year.

However, this approach could lead to shortfalls due to the effect of the recession and falling house prices.

Keith Churchouse, director at Churchouse Financial Planning, therefore advised people to ensure they explore other potential investments to safeguard themselves, such as placing money in ISAs or selling up their business interests when they retire.

He said: "Don't be reliant on one of these options to meet your objectives because having a couple of horses in the race at least gives you the opportunity to have choice."



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