Retirement
You have retired and now you can enjoy the fruits of your labours. Hopefully, you have put away enough to live life to the full
There are ways that you can use the money you have saved to get the best income available:
Annuities
An annuity is a very safe way of guaranteeing an income until you die. You invest an amount of money and depending on your gender, age, health and the amount invested, you will be offered a monthly income that can be a fixed amount, one that will rise with inflation, or even one that will offer your partner a pension after you have gone.
Income Draw Down (Unsecured Pension)
This is the name given to pension plans that allow you to keep your retirement savings invested but still take an income from them without taking an annuity. There are many rules surrounding this sort of plan – for more information go to: http://www.pensionsadvisoryservice.org.uk/Personal_and_Stakeholder_Pensions/Income_Drawdown
Click here to find out about equity release.
Click here to find out about life time mortgages and Home Reverson Plans
Finally, do you need to think about who looks after you if you need care? One thing that is definite is that Government provision has never been overly generous and it is not likely to get any better.
OK, one partner can look after the other, but is that how you want your partner to spend their retirement? We can arrange for the costs of your long term care – in a home or in your own home.
