What Are Your Aims/Ambitions?
Before you start planning your retirement investments, you need to decide what it is that you want from your retirement.
If you’d like to buy a new home or spend some time exploring the world, you’ll need to work out the costs. It’s a good idea to take into account the cost of living, whilst ensuring that you have enough funds to see you through all eventualities.
Purchasing a property is often a safe investment and will offer you security as you navigate your way through retirement.
If you currently own your home, have you considered downsizing and moving into a retirement property? This can free up some of your finances and help you live a comfortable life.
If you’re interested in properties and have some spare funds, why not consider buying a second house? A buy-to-let can create a steady income, and you can sell up if you should ever need the money – usually for a profit.
You’ll need to consider the tax implications of owning a second property. It’s a good idea to seek the advice of a property advisor or mortgage broker to help you understand the benefits and risks involved. This can help you to make an informed decision.