After contributing an average of 81,000 man hours and £145,000 in tax, it should come as no shock that the majority of retirees want time to relax during their retirement.
From the retirees we surveyed in our Great Retirees Research, 57% said that ‘time to relax’ was what they wanted most from life after work. Coming a close second was ‘time to travel’ (55.7%), and ‘time for hobbies’ (55.2%) was just edged out to third.
Retirement, it seems from our results, is a time where time itself is cherished dearly. Our Great Retirees deserve to have the time to enjoy whatever it is they like after giving the vast majority of their lives to work. Be that time relaxing, travelling, learning or volunteering, few would resent the fact that this is what people deserve.
Unfortunately, the time many have in retirement to reward themselves is often eroded by financial concerns, stress and worry.
However, equity release is proving an ever more popular retirement solution that can help alleviate this stress. More and more retirees are turning to their housing wealth to give themselves the time, and the money, to do the things they want.
Geoff Charles explains: “It’s hardly surprising that our retirees are looking forward to some relaxation in their retirement. But this research also highlights that though their main work may be over, they are by no means winding down. Retirement provides the opportunity to complete life-long aspirations, be it travelling to other countries, learning another language or skill, or even setting up a business. It should be a fulfilling and exciting time of life, during which aspirations can be realised. Pensioners should not be wracked with financial worries. Qualified financial advisers are well placed to help them make the most of their finances, and where appropriate, equity release can be one way of easing the financial burden many pensioners may be feeling.”
