Why should you have a retirement plan [Infographic]
Retirement can be the best time of your life. Even though your health might not be the same as when you were twenty or thirty, you will have time for whatever you wish to do. Most people decide to travel during their retirement. However, to be able to do that you would need a retirement plan so you will not have to worry about finances.
It is good to have a retirement plan because you can decide if you want to save money, or if you want to invest in houses while you still work and then get an equity release after you retire. If you decide to save cash, it is better to do it in advance and begin early. You will be able to save more, and it will not affect your finances as much as it would if you just started saving 5 or 10 years before the retirement.
The second option is getting more popular in the UK each day because of the high increase in house prices. Websites like responsible equity release will be a good source of information about the interest on equity release. You can also find equity release calculator online, to help you establish exactly how much you can release.
If you want to learn more, check out the infographic below.