Euro currency exchange could prove important to retirees

Currency exchange rates between the pound and the euro could prove to be particularly important for pensioners as European countries have topped the list of favourite retirement destinations for Britons.

Spain came in first, with 25 per cent of the vote in the study conducted by Aon Consulting.

France was a close second, with 15 per cent of people suggesting that this would be their preferred country to live in once they finished working.

Just 42.7 per cent of Britons said that they were not considering retiring abroad.

However, Rhiannon Davies, director of Shelter Offshore, suggested that Britons should plan their finances before they move.

"The number one reason why expats fail is because they don't get their finances in order before they go," she said.

An independent foreign exchange broker could help people to move their funds abroad at a good currency exchange rate.

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Posted by Chris Barber