Personal Finance for the Over 50s

Equity release or Lifetime Mortgages as they are known are becoming more popular as people look for ways to increase their income

Who doesn’t love a good calculator – one of those whizzy tools on the internet that with the simple addition of a few details, tells you everything from how NHS hospitals perform in your area to how much a funeral costs. So I was thrilled with the BBCs latest life expectancy calculator showing how long you are expected to live based on where you live in the world.

How much is my house worth? – discussing it, researching it and finding out the answer is practically a national pastime for any homeowner. And for good reason, too. Over the years, your home has almost certainly increased appreciably in value. 

More than 120,000 (some 40%) of these British expatriates have chosen to retire there since they are aged 65 or over. What kind of life are they living? A very good one by all accounts.  The Expat Insider Report for 2017 offers some of the clues as to why that might be.

If you do not write a Will, you have no control over what happens to your estate – all your possessions, property, and money – after you die. Without a Will, you are said to have died “intestate”, and your surviving relatives and friends are likely to be left with anguishing decisions – not to mention time and hassle – about the distribution of your assets.

Equity release schemes have received their fair share of bad press in the past. Any comment to the effect that they might not be for everyone has been seized on as meaning that they are really for no one - these and other myths are just that – simply not true.

A report exposing how cheap funeral plans can leave families with more to pay has hit the headlines again today threatening to tarnish the funeral plan industry’s reputation however this is not necessarily a bad thing. 

It is always welcome news when a government carries through on one of its election pledges – especially one that is likely to affect millions of ordinary people.

Once you pass the age of 60 your worries are likely to be less about the inevitability of death, but the extent, length and cost of long-term care as you enter old age.

If you own or drive a car, your current motor insurance expires sometime this year. When the renewal letter drops through your letterbox, you are almost certain to be greeted with the unwelcome news that you are going to be paying more.