Advice for Retiree

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Living Life King Size in Retirement with Equity Release Scheme

Retirement comes with many promises. It is rightly said as golden phase in the life of a person. Out from the usually hectic routine life, people have lots of opportunities to live on own terms and conditions in retirement. They have all the time to spend with family and friends, attend clubs and go on lunch dates. While some prefer to spend time on the pool lounges reading latest novels, rest of the retirees look after gardens and harvest vegetables in the backyard of their houses.

Image Courtesy: goo.gl/lkxH5

Image Courtesy: goo.gl/lkxH5

Here are few ways to plan out a comfortable retirement:

Know yourself: Most retirees find it tough to come with the terms of newly acquired comfort. Either they find themselves in distress or spend lots of time alone. If you are a workaholic, securing a part time job or volunteering for social causes can be a right choice for you. You have a choice to become consultant to the company you are working in. This will not only provide you extra income but also make your life stress-free.

Engage yourself: After a certain point, retirement life becomes mundane and boring to most retirees. As they are now cut off from their colleagues and friends at working place, life may not remain exciting and entertaining to them. You need to re-schedule your daily life at the earliest to live life afresh. Plan out dates with friends and go out on adventures from time to time.

Enlist everything that appeals you: Clip articles, save brochures, collect photographs and everything that appeal you. This will give you some work, whenever you are free.

Reinvigorate your skills: Every human being is gifted with something unique; you can exploit your creativity in the retirement. A creative writer can start putting their words together and write a book or fictions. If you possess leadership skills, apply this facet of yours in invoking positive thoughts in the mind of youths in your locality, or you can join any organisation.

Keep learning: Learning is a process that never ends. You should always try to acquire new knowledge and information on the things that interest you. Go through non-fiction books, read newspapers and magazines as much as you can.

Rehearse the retirement: It may work for you in the long run as well short run. You should practice the retirement, well before hanging your boots.

Image Courtesy: goo.gl/YDwx8

Image Courtesy: goo.gl/YDwx8

Living life king size in retirement is possible only with constant flow of income. For your dream retirement, you need to make certain sacrifices in the working years and if you have not, do not feel low.

You have an option for retirement planning with equity release scheme. Yes, this plan is exclusively designed for retirees and offers several benefits to them. You can fulfil all the above mentioned dreams of yours by withdrawing equity from your house.

If You Have Missed the Bus, Trust Equity Release For an Exorbitant Lifestyle

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

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

It is believed that retirement is full of fun and frolic but oftentimes this notion gets marred in the absence of enough amounts of cash. According to some recent studies, retirement savings are constantly on the decrease, more than half of the population do not have enough savings in the account to live a sumptuous and healthy retirement lifestyle. The same study reveals that major portion of retirement savings are likely to get finished into the early phase of retirement.

Now, you are in 40s and do not have abundance of money in your retirement account. There are not many working years left either, so that you can start savings with a fresh mind and new approach. Most probably, the small corpus of savings would be haunting you but you need to be calm and composed as they say, it’s never too late to mend the ways.

So, what are the options available with you?  

image courtesy: http://goo.gl/KHr7d

image courtesy: http://goo.gl/KHr7d

Become abreast with all avenues of savings and come up with aggressive investment

Still there are many ways open to you, explore them. First of all, categorise your income and expenses and find out if you can reduce the expenses. Once it has been categorised, start investing aggressively and ensure that your investment is productive.

Trust on equity

At this stage, your properties can give much-needed respite to you. Equity release scheme has been topping the list of beneficial retirement plans. The money received after release of equity on home is tax-free and you have the freedom to invest the way you like to. In the recent times, interest rates have been lowered on most of the equity release schemes, so you can look for a cheap deal.

Minimise your consumption needs

It’s wise to think austerity, when you do not enjoy the freedom of cash. If you are planning to buy expensive items such as car or new homes, shun the idea and prefer to buy only essential goods.

Cover your life with health insurance

At this stage of your life, you need to cover yourself with health insurances. Get to know about government sponsored benefits and make full use of it.

Focus on creating savings

When you are in 40s, retirement plans may not benefit you much more. Pay heed on accumulation of wealth and create savings whenever and wherever you get a chance to.

If you are still young enough to contribute into retirement funds, must check in with your employer to know of various retirement schemes that they offer you.

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