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Building Your Retirement Plan? Should Equity Release be Part of It?

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Retirement, it’s a word we don’t like to think about, but it’s inevitable and we all know it’s coming. So why not make the best of it? That’s what equity release plans are all about: giving you an option for your retirement that is tailored to you and your lifestyle.

Photo by Huy Phan from Pexels
Photo by Huy Phan from Pexels

The equity release plan is a strategy that is gaining more and more popularity as people are looking for ways to secure their future. It works by borrowing against your home’s value to supplement your monthly income. With this method, you will be able to pay off debts, avoid bankruptcy, and maintain the lifestyle you want without worrying about what will happen down the line.

In this article Jason Stubbs, Equity Release Expert from EveryInvestor will tell you more about the interest rates on equity release and the reasons why equity release may be the perfect plan for you.

Retire Comfortably: Equity Release as Your Retirement Plan

Equity release can be a great way to achieve your dream retirement. It’s often more affordable than other options and has no age limit on when you could start. If this sounds like something you’re interested, keep reading on the reasons why it’s a good option.

#01. Financial Freedom 

You have the freedom to use money however you want in using equity release. Equity release is a great way to have more control over how you use your money, and the freedom that comes with it. You can do things like buy property or invest in stocks without worrying about whether they’ll be around when retirement rolls around.

#02. Tax-Free Cash

Equity release money is a great way to minimize the financial impact of aging on your family members. The tax-free benefits can help them maintain their lifestyle without worrying about losing some or all income, while also giving you peace-of-mind.

#03. No Need to Relocate

Equity release is a good solution for those who want to downsize without the hassle of selling their current home. With equity release, you can continue living in your present accommodation and gradually pay off any debt that may be left on this property while still making savings elsewhere like with private health care coverage or banking services online which offer low fees.

 #04. Pay When You’re Able

Equity release is an option for people who are looking to buy their freedom. With equity releases, they lease out some of the money that’s been invested in them so you can get paid when it’s most convenient and helpful.

 #05. No-Negative Equity Guarantee

The no-negative equity guarantees for an easy transition to retirement. This means that you can have your home’s value released from the remaining mortgage without any interest penalties or charges if it is more beneficial over time than keeping up all payments.

Financial planners are increasing recommending equity release as a retirement plan. If you have an aging parent or relative who is considering this, speak to their financial advisor first before making any decisions on your own. They will be able to walk through the process and help guide them in the best direction for their future.

Some people may not need equity release at all while others might want to use it as part of their retirement strategy. There’s no one size fits all when it comes to retirement planning so make sure you know what options they have available before deciding anything too hastily!