Brits advised to save for their future

Britons need to be prepared for their financial future, particularly in retirement, according to one financial advisor.

Patrick Connolly, head of communications at AWD Chase de Vere, said: "People are just not aware of what is in store for them, particularly when they hit retirement.

"There is a lack of trust of the financial services and pensions industry - people don't know what to do or where to go for help."

Mr Connolly advised that people invest in property, cash, shares and fixed interest investments to prepare themselves for the future.

These investments could continue after death and be left to a spouse or family member when making a DIY will.

By ensuring that money is invested in a variety of areas, the expert said that when some of them fall, some could grow as well.

According to Halifax, household wealth has increased more than five times in real terms in the past 50 years, but Mr Connolly argued that people are not doing enough to protect their finances.

Written by Christopher Evans

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Published on: May 19, 2010

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