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
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
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.