January VAT Increase Could Hit Hard in Retirement

January VAT Increase Could Hit Hard in Retirement

With the planned VAT rise in January, it is believed that the spending power of retirees will be greatly reduced, meaning day to day living could well become a lot more expensive as a result. With a harsh winter also predicted, increasing fuel prices on top of the VAT rise could hit hard and many in retirement will find their pension quite simply won't stretch.

Combating an Increased Cost of Living

One option that could be worth pursuing, once other alternatives have been explored, isequity release. The value built up in a property can be released, tax free, as a cash lump sum or a reserve of a set amount that can be accessed as and when needed for a certain length of time or until it's used up.

Providing aSHIP equity release plan is chosen, or one that offers the same guarantees, homeowners can rest assured they will get to stay in their property for life and will never owe more than it's worth.

Equity release, in the form of a home reversion plan or lifetime mortgage, could help relieve the worry of not having enough money to live on in retirement. Whether it's to meet day to day expenses or increased heating bills, or to make life more enjoyable with enough money to spend on holidays and leisure, anything is possible withequity release.

Equity release may involve a lifetime mortgage or home reversion plan. To understand the features and risks, please ask for a personalised illustration.

POST COMMENT

From the Flames: Some of Phoenix Arizona's Biggest Stars Enjoy Carp Fishing Holidays in France Things to do in Phoenix Watch Italy Vs Australia Rugby Union Live Stream Relaxing Bedroom; How To Create One Must See Things For 2011 Rhodes Holidays Why don't you try out a condo at Myrtle Beach available on rent? India Holiday – Treasure Wonderful Experince to Relish Forever About Authority, Credibility, And Celebrity What's on in Washington in December 2010 Spend Your Christmas Holiday In Australia Srlv Launch Undergraduate Summer Internship Competition In Partnership With Grad Diary Close Encounters and Summer in India