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Business

Financing Retirement for Seniors

Some time back I had written about equity release, and I wanted to talk about several things at once in that post (possibly the reason why I ended up sounding a bit cautious and a bit enthusiastic at different points in that post). In order to avoid this confusion, here is a simpler post … equity release is the perfect retirement financial vessel for senior citizens.

This article is aimed for senior citizens who might have been aware of this instrument but are scared of taking any kind of action to ease their livelihood. The idea is to help you make informed decisions instead of blindly signing on the dotted line.

A lot of seniors face the same question – who will support me in the later part of my life? Well … now that question is answered … its to use your house as a vessel to fuel your future income.

In case if you have not thought of any source of passive income, then this question might put people in a quandry.

Once the value is arrived at, then the next step should be finding the right firm whom you can come to terms with. Here you need to ensure that the people you end up transacting with are open, friendly and willing to put your concerns to rest. A smart idea would be to see if the financial organization is not putting any undue pressure on you to use up your release amount faster.

Once the terms of agreement are mutually agreed upon, then you simply have to enjoy the benefits of your home and the income generated from your house’ sale.

It’s like having your cake, and eating it too!

By Prasad Ajinkya

Prasad Ajinkya is the Big Fat Geek and often he spends his time working on the WordPress or Google eco-system. He loves to solve business problems with technology.

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