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Buy in haste...
A survey by Aviva has revealed that one in ten of us made ‘pandemic purchases’ which we now regret. According to the report 88% of people in the UK bought ‘treats’ for themselves during the pandemic, collectively spending some £57.6 billion. Although clothes and shoes topped the spending list, 6% were fired up with the thought of a pizza oven, whilst 5% splashed out on a hot tub or jacuzzi.
Research by the same company in July 2021 had already revealed that 50% of home buyers regretted the amount they had paid for their new home during the pandemic. Now this latest research has identified some £6billion of spending which individuals now regret having made.
It’s a good example of the importance of taking time to research and carefully plan before making important spending decisions. The same is true when it comes to investments or pension planning. Making a quick decision now could result in a less than optimal result in the future. That’s why it is vital that investment choices take into account not only current situations but also future expectations; and furthermore that those choices are carefully researched and considered.
If you are looking for advice on investments, or if your situation has changed and you may therefore need to review your existing pensions or investments, contact Beckworth by using one of the links on our website.