24 November, 2008
According to a recent survey the much-hyped "Credit Crunch " has changed many people's view of their future.
In 2007 a reported two out of every five people surveyed believed that their family home would be the top contributor to their final retirement pot. In 2008 that figure is greatly reduced. House prices are now estimated to be over 15% lower than 12 months ago. A further fall is expected next year with the possible result that average house price will have fallen by around a third in just two years.
Many people had become over-reliant on an expected ever increasing value of their family home.
In addition the recent interest rate cuts have reduced the amount of interest that savers can get from deposit based accounts , and more cuts are predicted over the next 12 months.
So where should people turn?
There has never been a greater need to ensure a balanced and diversified approach to all aspects of finance. Diversification and a variety of assets are essential. There has never been a better time for getting truly Independent Advice.