When Derek and Sylvia retired things seemed fine at first but it quickly became apparent that their pension would not be sufficient to meet their commitments whilst enjoying the lifestyle that they had looked forward to leading in retirement.
Derek spent a lot of time worrying about the mortgage and credit card debts that they had brought into retirement and, now that their income was fixed, the repayments seemed to take up a greater proportion of their income than before. They spent a lot of time talking to their financial adviser about how to bring order to their finances.
The couple’s decision to take out an equity release plan has allowed them to increased their available monthly income by removing the repayments on their mortgage and credit cards and they now have more money available to use to enjoy their retirement to the full. Sylvia is happy that the children should still stand to gain some inheritance whilst seeing their parents enjoy their retirement.
These example case studies have been inspired by the testimonies of many of the customers who have used the services of Just Retirement.