I was just a week away from retirement when one of my colleagues suggested me to go through the pension plans online. I took an entire evening in conducting an extensive research in Google. However, I was disappointed at the end of the day when I found that the interest rates were extremely low which could hardly fetch me a steady income. I was growing restless to find a lucrative retirement scheme as I drew close to my final days at work. I called up an old friend of mine who retired almost three months ago. He came up with an option named ‘equity release’.
The entire concept was brilliant. I came to know that I need to be a homeowner and over 55 if I wanted enjoy a lifetime income and that too without paying a single tax in exchange of releasing equity from my property. Despite, my property remains mine only and I can remain there till my death. What more a retiree wants than enjoying financial security throughout his retirement? Once again I got indulged in researches and found that equity release has emerged to be the most popular means of ensuring retirees that a day will come when they would surely solve all their financial problems.
On visiting plenty of sites and checking reviews of equity release, I came to know that equity release can not only help a family lead a pleasurable life but clear debt issues, renovate one’s property, arrange a costly tour, buy a new car, purchase a new property and even fund long term care costs. Now, I was completely thrilled and turned restless to know the steps to access this retirement plan.
I took help of an equity release calculator to check whether I would be benefitted from such a scheme. On inserting my personal details, I got an estimation of the exact amount of equity I have to release. My property conditions were up to the mark and I felt that it’s high time I should now call up a property appraiser. My job was done and I got a brilliant offer from him.
To be honest, I am happy now. Just a month back, I had gifted a car to my son and we are also looking forward to a long holiday. Everything has been made possible for equity release. Heartfelt thanks to my old friend who showed me this new way to remain happy after retirement.