Later In Life Money Matters

Information & Advice for Money Matters in your Later Life Plan!

Later Life Finance Planning

There are many other money matters that we address at Silver Choices. Some of these are retirement planning and income, annuities and equity release mortgage schemes. How is each defined?  

Equity Release Mortgage Schemes

Equity release mortgages allow you to secure income from your property without selling it. You can take out a loan against your mortgage and enjoy this as a tax-free sum or you can sell a portion of your home for its cash value. When you die, the remainder is sold and the lender receives their share. Your family will not be burdened with extra costs, tax obligations, etc.  

Planning Your Retirement Income

How will you make the most out of your retirement income? In fact, what figure are you expected to receive and is it better to receive a lump sum or monthly payments? In either of these cases, sound financial planning is a must. From wealth management programmes to investment opportunities that can supply a steady flow of predictable liquidity, it is essential that planning for such contingencies takes place. After all, you need to have your fixed income work for you and your family as opposed to hindering your options.  


After having paid into an insurance plan or pension fund, an annuity is the vehicle that will provide you with income for the remainder of your life. However, there are several different types. In many cases, you are able to take up to 25 per cent of your “pension pot” as a tax-free sum. It is still a fact that since April of 2015, the rules in terms of annuities have changed and the conditions cannot be changed at a later date. While these rules have modified the stipulations that are associated with you withdrawing the remaining 75 per cent, it is always wise to consult with one of our trained financial advisers to make certain that this is the best way forward. As an annuity scheme can very well represent the “life blood” of your retirement income, these and other issues should be taken quite seriously.  

At Silver Choices, we provide you with a wide array of financial options and wealth management advice. The best way to appreciate which routes may be the best ones for you is to consult with one of our trained advisers and inform them of your unique needs. We can be contacted by clicking the link below or with a quick phone call. Planning your golden years is important and we are here to help. Copyrighted © 2021- All Rights Reserved.