Investor Views: “I Bought a Holiday Cottage with my Pension”

Private investor Colin Aves says he hopes a combination of property and pensions will provide for him in retirement

Emma Simon 14 September, 2016 | 11:48AM

Colin Aves says he is making the most of the new pension freedoms. He has used part of his pension to buy a holiday home near Swanage in Dorset, which he hopes to rent out for additional income for part of the year.

“It’s something that myself and my wife Nicky had talked about doing for a long while, but financially we weren’t in a position to be able to do anything about it before.”

Aves, who works as a structural engineer, is now 58. As he is older than 55 he can access some of his pension funds, although part of his pension is in a final salary scheme, which he can’t touch. The couple decided to use some of this money to put down a deposit on a second home.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Fidelity China Focus A-Dis-USD70.21 USD0.42
Fundsmith Equity R Acc4.68 GBP0.14
Invesco High Income UK Inc391.23 GBP0.41
Neptune Russia & Greater Russ A Acc GBP4.78 GBP0.05

About Author

Emma Simon

Emma Simon  is a financial journalist, specialising in investment and consumer issues, writing for Morningstar.co.uk

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