Research by the online service Rated Tradesmen shows that 73 per cent of UK adults are planning to rely on their house as a cash cow come retirement.
Rated Tradesmen, an online service that matches tradesmen to customer-submitted jobs, found that nine out of ten of UK adults say they are 'very conscious' of the need to save for life after work, but 48 per cent of UK adults say they have no pension plan in place. Instead, people are choosing to invest their savings in bricks and mortar, with 73 per cent saying that selling their home, and cashing in on the property boom, will provide the funds they need for retirement.
Rated Tradesmen questioned over 1,200 homeowners and found that homeowners are spending 89 per cent more money in home improvements than they do in pension contributions - £34 a week (£1,768 a year) compared to an average weekly pension contribution of £18.
