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Should you need to sell assets in your retirement?

A report by LV suggests that 1.2 million people in the UK will be forced to sell their homes and downsize to fund their retirement. When you bear in mind that the vast majority of people in the UK will have paid significant taxes by the time they look towards retirement, is it fair to expect those who have done fairly well for themselves to reduce their assets in retirement?

There's no doubt that many people who have worked all their lives and paid significant taxes over the years will not appreciate having to bail themselves out to effectively fund those who have for a variety of reasons been unable to collate assets over the years to look after their own retirement. So is it fair that the richest of society are expected to fund their own retirement while others will still be able to rely on the state?

This is a question which splits the political parties down the middle with the Labour party looking to assist the "masses" while the Conservative policy has traditionally favoured the rich. Over the next few years there is no doubt that this difference between the main political parties will grow as many believe that "New Labour" is dead.

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