The financial service product that will come to dominate the lives of the 50-plus is equity release – in the US/Canada/Australia this is most often referred to as the reverse mortgage.
Housing assets are the most important source of stored income for older people. The process for translating bricks and mortar into £s and $s is the most important financial transaction that older people will make.
Right now it is a minefield of unregulated products (at least that is how it is in the UK).
Have a look at how AARP demystifies this complex subject. Age Concern – Heyday – take note!Dick Stroud
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