Downsizing for retirement

Around 63% of homeowners favour downsizing their property to fund their retirement, according to research by Now: Pensions.

Of the 2,000 people surveyed, nearly 39% think that unlocking housing wealth will be a fundamental aspect of funding their retirement.

Of those, 24% are relying on their home as they don’t expect to have any private pension savings once they retire.

64% of homeowners aged by 50-69 said that they wish to downsize their home or move to a cheaper area to supplement their pension savings.

Further findings:

  • 44% of respondents who do not currently own their home fear they won’t by the time they retire
  • 47% of non-homeowners said they will rely on state accommodation
  • 30% of non-homeowners said they will have to continue working to pay their rent.

Talk to us today about retirement planning.

Leave a Reply

Your email address will not be published. Required fields are marked *