Savings message coming through

Mon, 19 Nov 2007

People are taking heed of messages about saving for their future, according to one expert.

Lucy Pope, spokesperson for LV=, said that such messages about saving for retirement and paying off debts are now "coming through".

"The Government are doing quite a lot in terms of educating people and it is quite well documented in the media about pensions and young people [needing to] save ," she commented.

Additionally, a significant number of people are now viewing property as an investment that will provide an income for them in their retirementn, she stated.

Ms Pope's comments followed a survey published by Abbey which revealed that many people saving towards their retirement are planning to use the money to "live it up" when they finish working.

The study showed that 44 per cent of retirement savers said they would look to take a round the world trip , while a further 17 per cent claimed to be saving for a "unique experience".
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