Silver Surfers are the Future!

Ideally, your retirement years should mark the very best years of your life. They offer the perfect opportunity to do everything you want without having to maintain any kind of schedule. You are essentially your own boss which means that you can come and go as you please while ensuring that you only take part in the activities that make you truly happy. Here at Silver Surfer Financial we understand that there are many issues associated with making life as comfortable as possible in retirement. After all, there is no better time to enjoy life than during what will undoubtedly be the longest holiday of your life. Many individuals assume that during retirement they will quickly become asset rich and cash poor. However, it is possible to benefit from all of that equity you have built up over time. Drawing down on that equity is a great way to ensure that you have all of the cash you could possibly need right on hand.

For those coming up on retirement and hoping to cash in on their biggest asset, it is imperative to work with someone that will give you the best and most impartial advice possible. This advice could revolve around the possibility of a lifetime mortgage or home reversion scheme. Regardless of your decisions, you can’t make the right moves for you if you aren’t given the best possible advice. This is where Silver Surfer Financial can come to the aid of those aged over 55.

Many pensioners have benefitted from a couple of different economic changes. First, you may have been given the advantage that came with the housing boom of the 1980’s, with the right-to-buy schemes introduced by Margaret Thatcher’s government. Next, you may have experienced a large increase in the equity of your home in the mid 1990’s. All of that built up equity can now be put to good use with the assistance of a new generation of home equity release lenders and similar retirement mortgage providers. These equity release schemes could potentially mean that you have all of the cash on hand to do whatever you’d like over the course of your retirement.

Equity release lending experienced a strong recovery in 2012. Because of this recovery, providers and the kind of schemes they can provide and offer have been altered. It has also changed the conversation around equity release schemes and how they can impact your quality of life and the legacy you leave behind for your children. Common sentiment seems to have always been that you should leave your home to your children as part of their inheritance. However, it is important to determine if this is even what your children truly want. When it comes to making choices related to your retirement it is important to leave nothing to assumptions. For many children of adult parents, it is more important for them to see their parents happy and healthy in retirement as opposed to waiting for an inheritance. For many in the younger generation, it is no longer assumed that inheritance will include a home. Instead, your children may rather see you enjoying retirement to the fullest.

Many retirees haven’t even considered releasing equity from their property as many of our retired generation have always turned to their savings as the alternative. However, it is increasingly important to think about what will happen once that savings runs out. Interest is not doing much to help you build up your savings right now so truly you are only ever spending it down, especially during retirement. That being said, you can’t assume that your savings will last throughout your retirement years. You really do have to start thinking about other ways to fund your retirement in the event that the savings you have built up does in fact run out. For many, this means looking to their home to help access more available cash. Most individuals never truly think about what their home can do for them during retirement. They think that they simply do not have cash available. However, that cash is simply tied up in the value of their home. Having your cash tied up in your home can turn out to be a problem if you need to access your wealth but also want to stay living in your home as long as possible. This exact dilemma is what equity release schemes aim to solve. An equity release scheme could help you to access cash easily. By releasing the equity you have built up in your home over time, you are better able to spend the cash you need to enjoy retirement.

There are of course pros and cons to equity release schemes, like any other financial product. This product may work best for you if you do not have any strong desire to leave your home to your children. Regardless of your decisions, it is important to always consider where you are obtaining your financial advice. Silver Surfer Finance has ties with reputable companies and can put you in direct contact with a local equity release adviser.
If interested or want to learn more, please call Compare Equity Release on 0800 678 5169 where impartial equity release advice can be found.

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