Personal Finance for the Over 50s

Along with the summer, the 1^st June marks the dawn of another important day; the day when both the Competition and Markets Authority (CMA) and the Treasury announced their reviews on both funeral costs and prepaid funeral plans in the UK.

It was with a happy heart that I read the latest BBC health news report about a new immunotherapy drug trial that appears to have had amazing results in one in 10 men with untreatable prostate cancer.

In short yes there is an Over 60 Life Insurance plan but it is usually marketed as the more commonly known Over 50s plan. If you are looking for life insurance over 60 though, it is worth knowing that there are a couple of options available to you that could give you a greater cash sum

Do you want an all singing all dancing funeral plan that covers everything, or are you happy just paying for the essential funeral costs and leaving the rest until the time comes?

Direct Cremation is a relatively new type of funeral but one that is growing in popularity. Although it will probably not become the norm as the majority of the UK still hold firm with wanting a more traditional funeral service

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.