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Financial freedom in retirement

However you choose to define it, it’s knowing you don’t have to work to live, but to add life to your retirement years if you so wish. It’s knowing your mortgage is cleared all your essentials are covered, and your luxuries are all budgeted for with a rainy-day fund in case the roof falls in. It’s a good feeling. One you want to savour. At free2, we’ve been doing some serious thinking about how people can plan their future financial security, and we discuss how you may be closer to Retirement Freedom than you may think, here.

Freedom from your Mortgage

The arrival of Freedom Day has prompted us to think about how consumers can gain their own financial freedom, something many of us dream of and work towards for decades. An important first step is paying off a mortgage. There can be considerable obstacles, but there may also be unthought of opportunities. Find out more here.

Freedom Day is here - Now what?

The country is finally beginning to emerge from the last of the lockdown restrictions, so, what does the long-heralded “Freedom Day” mean for your finances? What can you do to plan for your financial freedom? We’ve been doing some serious thinking about how people can plan their future financial security, and we discuss some of the thinking behind it.

Spending your pension your best move?

Lockdown restrictions are ending. “Freedom Day” is beckoning. If you’re like the 77% of over 55s we surveyed, you’ve got big plans to fund in the next 6 to 36 months. Plans big enough for you to dip into your pension pot? Or are there other ways of raising finance that might be better suited to your circumstances?

Don’t compare the what, compare the how…

If you’re planning a significant spend in the next 6 to 36 months, then you’re in good company; our research tells us that some three-quarters of over 55s are planning to do just that. But, instead of thinking only of what you’re planning to do, you might want to use the time between now and “Freedom Day” to think about how you’re going to fund your next big spend, by comparing and contrasting your funding options.

What price freedom?

If you’re one the three-quarters of over 55s planning a significant spend in the next 6 to 36 months, you might want to use the time between now and “Freedom Day” to not only research what you’re going to spend your money on, but also to compare and contrast your funding options. According to our recent research, many people plan to dip into their life savings to fund a significant spend, but is that the best or only option? Free2’s newly launched Funding Comparison helps you to explore all the options. Why not put our Funding Comparison Tool to the test?

Putting everything in perspective…

Just as you wouldn’t buy a house or buy a new car without first doing your research, when it comes to funding that big ticket spend in retirement, you need to compare all the options. You may even prefer professional advice to find out what approach suits you best. Why not put our Funding Comparison Tool to the test?

There’s so much more to a loan than the APR

There are several factors to think about when comparing unsecured loans, for starters, there’s so much more to consider than just the APR. Find out more about some of the factors you may want to consider when raising finance over 55, here.

Funding Unexpected Financial Needs

We look at some of the typical reasons for borrowing and ways of raising a lump sum when over 55, and suggest potential sources of advice.

Why do over 55s receive different options?

Why do our financial options seem to narrow, just when we’ve hit our peak? We look at reasons why this occurs and discuss our first product offering which is designed to address this issue.

Something to look forward to

We all need a little inspiration right now. We cover some ideas which may help to give structure to your days and weeks, and may well provide a much-needed sense of anticipation.

Revamping Your Home Office

Whether it’s a traditional home library or study, a spare room, an outbuilding in the garden, in a basement, more than six months into the pandemic, you’ll want to set up a home office that helps you to keep organized, so you’ll need more than a desk and a chair tucked away in the corner.

Equity Release - Decision Points

Once made, the decision to release your equity is effectively irreversible and has potentially significant ramifications. The more you know about it, the better. In this piece, we look at how equity release is commonly used, and who by, and the general pre-conditions that apply for most applicants. All useful background information before speaking with an Independent Financial Adviser.

Help Your Family Back On Their Feet

If you’ve been called upon to help your family – from assisting with mortgage payments to helping out with university fees to bridging finance for your child’s business – we’ve got a dual proposition that may be of interest.

Pros & Cons of Equity Release

We look at how equity release works and outline some of the key pros and cons, and explain how our newly Equity Release Advice Service can help you find all the answers. Learn more.

Sources of financial advice

As we approach retirement, we’re confronted by a number of decisions about our finances, and to move forward with confidence, it might be a good idea to seek out sources of professional financial advice. We’ve commissioned a guide to help customers plan for their future, and the final chapter discusses where readers might find sources of financial advice.

Asking the right questions about equity release

Before you decide whether equity release is right for you, you’ll want to be prepared – part of that is asking yourself, and your financial adviser, the right questions. You’ll also need to consider all other options including unsecured borrowing. To help consumers choose, free2 has launched the Equity Release Advice Service, provided by expert, independent advisers with access to the whole of the market. It’s on offer alongside the Over 55s Unsecured Loan. Find out more here.