UK Money News
29th January 2008
Retirees investing in shares for 'nest egg' savings
A number of UK residents approaching retirement age are investing in shares as a nest egg for their retirement, it has been claimed.
According to figures from Lincoln Financial Group, around 1.8 million of over-55's are playing the stock market, with many realising that in so doing they can receive a better return than they would with a pension.
However, investing in stock carries with a degree of risk that pensions do not and should therefore be approached with caution, Simon O' Connor, head of product and marketing at the Lincoln said.
He commented: "People heading for retirement playing the stock markets to ensure they can have a comfortable standard of living are playing a very dangerous game.
"Stock market volatility this year has been pronounced and the recent past has seen four years in which the FTSE 100 has ended the year down. In fact the FTSE has still not returned to its high at the end of 1999."
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