What if you don't like risk?
What if you don't like risk?
Sometimes people worry about the risks of saving money, whether it’s in the bank, shares, pension plans or property. It’s true that there are risks with all these ways of saving money. For example, the stock market and the housing market will go down as well as up, but not doing anything at all is also risky. How would you feel if you didn’t put any money into some of these areas and then found out you could have done really well? That’s the risk you take by not saving.
If you are relying on the State to pay for your retirement there is also the risk that legislation may change. State benefits may have been reduced by the time you need them (as they are becoming increasingly expensive for those in work to pay for).
"It’s true that there are risks with all these ways of saving money... but not doing anything at all is also risky."