Advice for Retiree

Archive for the category “Equity Release”

Equity Release Scheme to Support You through Thick and Thins

image courtesy: http://goo.gl/JFr0S

image courtesy: http://goo.gl/JFr0S

According to a report, baby boomers cover a giant portion of population in UK; almost 78 millions of them form the community. Eldest among them came in 1960s and are on the verge of retirement.

Their growth was in the era, when standard of living was on the rise, but reason Great Recession to whirlwind their financial security and destroyed many nest eggs. In the present times, they face several issues in leading a comfortable lifestyle.

The baby boomer generation is between the 48 to 67 age group. Some of them are already retired or about to retire, whereas some are getting their kids through colleges.

This is an age, where a little lacking on the financial front can backfire in the retirement years. The volatile economic situation is worse of many years and retirement gains are on the constant downfall.

However, as it is said that something is better than nothing, so even the little sum of pension amount can be useful for the retired mass. State entitled social security can be another beneficial source of income for them. And, if you have some sort of retirement savings, life can be easy to you.

Confusion regarding the retirement savings and government plans are doing no good

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image courtesy: http://goo.gl/p8m2X

But, here, ‘one size fits all’ approach can be suicidal and in many cases, retired people get confused, as     what should be the standard amount of savings to maintain the set benchmark.

Government in UK tend to modify the age limits to receive pension benefits. Recently, they have come up with bizarre approach in deciding who all will be receiving the pension benefits over certain period. Certainly, these policies are not doing any good to the retired persons.

Living a well-to-do life is becoming tougher by each day, if you have not signed in to the retirement plans in hey days, in all the possibility, you are deemed to receive the benefits provided by some of the means and time tested benefits.
Sign in to equity release for a better-off lifestyle in retirement years

image courtesy: http://goo.gl/1DdFT

image courtesy: http://goo.gl/1DdFT

Why not sign in to equity release plans, as these are solely designed to meet the requirements of senior citizens. Over the years, equity release plans have been benefitting senior citizens to come out from the financial intricacies.

Of late, some strict rules and regulations have been enforced by the equity release council to protect the interests of senior citizens. Interest rates on various schemes are lowered and flexible products have been launched to safeguard the benefits of needy persons.

Equity release offer much needed support at old age, when everyone has turned their faces against you, this plan could enthuse the spirit into you to live a highly esteemed lifestyle.

Turn Your Home into the Key to a Happy Retirement

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image courtesy: http://goo.gl/HXM2L

Equity release has long been around and though it had a shaky start, the schemes are gaining popularity among the retirees now. The contribution of the Equity Release Council cannot be denied in this matter since they were the ones to regulate the plans and the schemes and to make them safer.

Retirement is a time that we want to spend in some material comfort considering our failing health and other conditions. So, even if the official retirement age has been abolished, it has not been possible to do away with the retirement planning. Like always it is still believed that the earlier you start planning the bigger will be your pension pot and the more secure will be retirement life.

What about those who just woke up?

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image courtesy: http://goo.gl/dzwmS

Believe it or not, there are people who would wake up one fine morning realizing that they are going to retire very soon. So, they do not get the time to plan their retirement. But that does not mean that they have to spend their retirement in poverty. It is then that equity release comes in most handy. You can get the cash up front and therefore, you do not have to wait for the money. Turn your home into the pension pot that will make your retirement life easy financially.

Some more reasons to release equity on your home:

image courtesy: http://goo.gl/xcJHo

image courtesy: http://goo.gl/xcJHo

This is one plan that will not restrict you because you are too old. In fact, the older you are, the higher are the chance of getting good returns. If this is not reason enough for you, then look at the other benefits of releasing money on your home:

  • The right to live in your own house
  • Tax free money that can be used for any purpose
  • No negative equity and you can even leave a legacy in certain cases
  • Low interest rates

 

By releasing equity on your home you will not only be able to manage your daily finances but will also have enough to fulfil some of your wishes like buying another car or going for a tour.

You have maintained your independence throughout your working life and there is no reason to do otherwise now that you are retired. Even if you have not planned for your retirement yet, you can do it now with equity release. Talk to a financial advisor today and find out how much can be released on your home. Even if you have left the rat race, there is no reason why you have to make do with less cheese.

 

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