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Retirement Income

it's 20 Apr, 2024 8:23 pm

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Retirement Income

Background

This information is about the specific health area mentioned above. It comprises a combination of textual and video information, on our site and on external sites. We will be adding new specific health areas and further information continually.

The idea is for you to understand more about the health area you are addressing before you get too far building your action plan.

General Information

Retirement income – oh how this phrase has changed over the last 30 years. 30 to 40 years ago it was all about starting a pension and getting a mortgage and paying it off and then retiring comfortably, often by way of taking out a personal pension plan. Hindsight is a wonderful thing. but nobody could have foretold what the pensions market would do or the housing market. 30 to 40 years ago accountants and solicitors were regarded as top of the tree and builders and labourers earned nothing in comparison. Today that world is so different with builders becoming multi millionaires with a string of houses to boot.

We know for sure that retiring at 50 is not good for your health. Remaining active and stimulated doing something you love is the best course of action to take. A wish: I love golf and when I get to 50 I will stop work and play golf every day. Well, not if you have repetitive strain injury you won’t.

Research shows us stopping work and pottering means your body starts to shut down gradually whereas someone who continues working at a job they love or a charity they have a passion for is more important. So its not about retiring from work its about doing a job that you love and ideally one that pays you a good income in retirement.

Take the retirement test and see how you fair.

Talk to one of our experts who may be able to help.

Background Information

There is information available which will help you formulate your action plan – both on our site and on external sites.

On our site

RetirementDrive

Retirement means different things to different people. Is it when you receive your state pension, when you stop work for good or when you leave your full time job / end your career?

The historical view was that you work until you retire, which is a specific event, then stay retired until you die. With people living longer it has caused the government to increase the age at which you get your state pension. This together with additional choices means that people are adopting alternative plans for retirement.

We have relevant information on RetirementDrive

EquityDrive

Equity Release has been around for many years. It has become more attractive over recent years because house and property prices have grown year on year by double digits – which is more impressive than many other investment tools.

Many people who bought houses in the 80s and 90s before the boom started had a small mortgage and now live in a property with a significant value. Many people over 55 also have grown up children who won’t be reliant on inheritance from a parent when they die. In fact, one could argue releasing some of the money and giving to your children as a deposit for a house would be more useful for the children now than waiting until both parents have died.

We have relevant information on EquityDrive

On external site(s)

Sixty and Me have an article setting out some interesting ways you can make money while you’re retired. It’s a US site, but a lot of the ideas are international or have equivalents in the UK. A brief summary with some useful links is shown below

60 CREATIVE WAYS TO MAKE MONEY IN RETIREMENT

BY MARGARET MANNING • UPDATED: NOVEMBER 11, 2020 • MANAGING MONEY

A few weeks ago, I asked the women in our community how they make money in retirement. Their answers were amazing and showed just how creative our generation has become when it comes to supplementing our income in the best years of our lives.

So, today, I’d like to share 60 creative ways that we have found to make money in retirement. I hope that you find them useful.

If you’re out of work and looking for employment in your 50s, read this article to help get you organised to find your next job. Also, this article has several tips to get you back making money from your passions.

AgeUK have an article on how to make money in retirement, including some useful tips and links to help you make your money go further.

Video

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making money from property

Learn how Anne Houlton a UK property investor went from nothing to a £Multi-Million business using creative property strategies like BRRR Buy Refurbish Rent Refinance to create a massive buy-to-let portfolio. Want more exciting content from Progressive Property? Subscribe to our channel: https://www.youtube.com/channel/UC0g1…

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Questionnaire

In order for you to assess what you know about this health area, we suggest using a questionnaire. This might help you understand your situation in this area, or taking it might improve your understanding of the area.

You may be able to take this questionnaire online – either here on our site or on an external site – or download it and complete it on paper – it depends on copyright (and whether we’ve managed to build it on our site!).

The ways you can take a questionnaire:

More than one external site questionnaire, Questionnaire on our site

Take questionnaire on external site

You can take this questionnaire on at least one external site.

There’s a quick 6 question quiz from Arbuthnot Latham which gives an interesting slant on how ready you are for retirement, and whether you’re likely to realise your dream. Obviously they’d like you to contact their wealth planners to discuss your retirement, but the questionnaire is interesting!

Hargreaves Lansdown offer a quick 5 question quiz on retirement options, which is designed to see how well you understand your choices in retirement. Again obviously they’d like you to contact their advisers!

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Your Dashboard Tools

Retirement Income

it's 20 Apr, 2024 8:23 pm

Add Your Info Details Here

Retirement Income

Background

General Information

Background Information

On our site

On external site(s)

60 CREATIVE WAYS TO MAKE MONEY IN RETIREMENT

Video

making money from property

Watch Now

Additional Info

Questionnaire

Take Questionnaire on our site

Our Questionnaire

Take questionnaire on external site

Additional Information

A Butterfly Life: 4 Keys to More Happiness, Better Health and Letting Your True Self Shine