Over 50s can`t afford to enjoy retirement because of debts
According to a study by Saga Equity Release, 17% of over 50s are left with very little money to enjoy their retirement once they have repaid their debts, while 41% of retirees find repaying their debts difficult, headlinemoney.co.uk reports.
However, more and more over 60s are now taking out equity release plans to unlock money from their homes so they can enjoy a `better quality of life in retirement`.
Figures show that 13% of over 55s are retiring in debt, and 40% of this age group have used equity release as a way to repay these – leaving them `better off in real terms` and free to enjoy their retirement. More..?
Latest comments