Britain's pre-retirement population is growing increasingly concerned about the impact of the credit crunch on their pensions savings, yet 60% have shunned financial advice.
The number of people Facing Retirement Earnings Doubts (Freds) is on the increase, with over seven million people approaching retirement now worried about the credit crunch, stockmarket volatility and possible recession. However, 60% of people approaching retirement have not taken any form of financial advice, an increase from 56% six months ago, according to the latest 'State of Retirement' research by LV=. Furthermore, just one fifth of those who have taken advice, have used an IFA, while one in ten prefer to rely on advice form family and friends. Of this group, nearly a third have s...
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