March 7, 2019

Funding your retirement property – how prepared are you?

Whilst in the midst of raising a family, everyday life and its accompanying financial challenges distract us from contemplating our future when we need to seriously think about scaling down our lifestyle as we approach retirement. We seldom give enough thought to the ‘golden years’ and, in particular, considering the purchase of that retirement property, which in most cases could be difficult to secure. GTC cautions that acquiring a property – for pensioners – requires careful and timeous planning to prepare for, and sustain, a consistent retirement income. “In our interaction with retirees or people about to enter retirement, we find that many savers have given insufficient thought to the purchase costs and ongoing running expenses of a retirement property, and subsequently they have not done enough to transition their financial planning from a monthly salary into a sustainable and...
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