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If you are nearing retirement, the returns on your pension savings will have been affected by stock market turmoil and low interest rates
Tarporley, Cheshire, United Kingdom ( 06/11/2012
If you are nearing retirement, the returns on your pension savings will have been affected by stock market turmoil and low interest rates. Stopping work for many, no longer looks like an appealing option as they will have a lot less money to live on for the rest of their lives if relying solely on their pension.

The Pensions Policy Institute has worked out that to reach a pension of £11,000 per annum, 45% of those in their 50s will need to work an additional 11 years past state pension age.

We are now in the midst of a pension crisis, but it's not too late to do something about it. Some of the options to people worried about their pension are:

- Renting out a room in your home

- Renting out your driveway through sites such as

- Maximise ISA savings by putting money into a high risk investment ISA

- Save extra money - perhaps taking on a part time job to take advantage of a work place pension

- Delaying state pension payments - if you delay your pension for five weeks this will give you an extra 1%, alternatively by choosing to put off claiming your pension for 12 consecutive months you can choose to take a one-off lump sum payment in addition to your normal state pension.

- Shop around for an annuity

- Work for yourself past retirement age as a freelancer

- Equity release - although this is a last resort.

Susan Alexander is a property mentor, she specialises in buy to let advice and helping property investors build a successful property portfolio. She says:

"As we appear to be living longer there is going to be the inevitable strain on how we are going to manage financially in our later years. Some people who have paid into a pension scheme for most of their lives are faced with the realisation that their pension may have a shortfall or might not cover the costs they need for retirement.

"There is an increase in people now searching for alternative ways to supplement or in some cases substitute the traditional pension scheme saving for retirement. Many are looking at ways to invest to give them a return, which will help alleviate the financial concerns or at least give them some reassurance and security.

"There are many ways being utilised to increase income, such as renting out a spare room or the car parking space on their driveway - there are many creative ideas with websites and companies in place to guide you through the process. One of the best ways I believe, which is already tried and tested, is investing in buy to let properties; buying a property that can be rented out to generate an income.

"Whether the rental aspect be something you want to manage yourself or enlist the skills and expertise of a property managing agent, there are different ways in which you can increase the rental income in order to provide you with the returns you are seeking for retirement. These are not get rich quick schemes, however If you have done your research of where and what to buy, selecting investment properties in good rental areas, which i would suggest getting some help with this from someone who already has a profitable property portfolio, this can provide you with a consistently good income not only now but for your retirement."

Notes to Editors

So many people think they can invest in property themselves and feel that they don't need additional advice. Consider most of the worlds most successful people, they fast track to where they want to go by getting a coach or mentor To find out how a mentor can help you achieve your goals click here. To find out more about Susan Alexander Coaching click here



This is where using an experienced property mentor who is also an investor can be invaluable in helping get a buying investment property decision right every time. For more details visit:


Susan Alexander

Lily Grange, Alpraham
Zipcode : CW6 9JJ