8 Could equity release help you get what you want from your retirement? By The Bower Team / In Equity Release, Retirement Planning We spoke to customers about what they want from retirement. We saw some unique perspectives on how they like to spend their lives now work is behind them. Here at Bower we understand how important it is to be able to afford the lifestyle you want, to be able to help the family financially or just generate some extra income in retirement. We understand that downsizing isn’t always an option so we’re here to help you find the solution using equity release, just like Mike, Chris and Carola did. Watch the video below to see what their aspirations for retirement were. Transcript Mike: It’s the freedom, I suppose, of the sea. The atmosphere of water and the scenery. And the things that go with it and the bird life. And part of the being on a boat and being in a yacht club. We’ve had more friends in the last three months than we’ve ever had and we love it. Chris: If I wake up early on a Sunday morning and the suns shining and it looks good then I get my leathers on and off I go. It’s fabulous, fabulous. It’s that feeling of freedom and that lovely feeling of acceleration, when you need that acceleration. You’re at one with the machine. Carola: When we moved in it was a little cottage and we then extended it and we then bought the land behind. And I love just walking in the front door and I just feel <sigh> and it feels good. It’s where my children grew up, for them its home as much as its home for me. At the time we were working in London and commuting up and down all the time and to be able to come here and then wake up on a Saturday morning and have fresh air, countryside, is just lovely. Mike: The boat we’re in today is a Brightlingsea One Design. Best reward for me is when you’ve been in the boat and made her go because the difference between the boat going fast and not sometimes is just the mainsheet comes in an extra inch and the sail changes just a little bit and suddenly the boat takes off. That’s what makes it golden. And that works. Chris: I have four Ducatis and this triumph. I have five motorcycles because I can’t turn them down, that’s the problem. When I was a young motorcyclist, the Triumph Bonneville was the machine to have and at that time I couldn’t really afford to buy one. So when one came along then I snapped it up and I’ll probably never get rid of it. Mike: This boat is one I can afford. It’s a lovely boat to sail. I wake up in the middle of the night and think about how the heck can we make the boat go a bit faster and a bit faster and do the right thing and spend some more money on that bit of kit. Those things go through your mind. But now I’m a retired architect and no income other than a small pension. You’ve got to do something else. We’ve got plenty of the equity want to put it into cash. Carola: I had a close relative who had done equity release when they retired for a couple reasons. There were two things, one they needed to do some house improvements and the other thing they wanted was a nice car. It wasn’t something that was just a practical thing it was something that they wanted to embrace and enjoy and have some fun. I know it was really important for them because they didn’t have the ability to actually buy the new car without equity release. And it was a very positive experience for them both in terms of what they did with the money but also just the process they went through and I know it’s really important to actually find the right company that can help you and give you that advice and recommend what’s right for you as an individual. What’s right for you and your family, what you might have within your house to release and what you want to spend on. Chris: I’ve just recently retired, I was conscious that I needed to build up my retirement fund enough that then I could retire and still enjoy a reasonable lifestyle. I don’t want to go mad but I’m thinking of buying another car and I would be a classic car if I bought another one. You know these days classic cars are fetching a lot of money both my daughter’s very supportive for whatever I want to do in my retirement and whatever I wanted to with whatever funds I have available. First most I’m looking after my own life.