And Life Insurance, Equity Release and Funeral Expenses policies etc, afternoon tv is full of them, must be depressing being alone or sitting in an OldFolks Home.

Care Homes in Thailand are becoming popular for foreigners, luxury accommodation, 24 hour care etc a week in a basic U.K. Care Home you can get for a month in Thailand with a small top up.
https://www.telegraph.co.uk/global-heal ... sh-expats/

Equity release… ….. it shows happy idiots on the TV Ads….and you’d have to be a bit gullible to consider it… especially the compound interest.

just get all the details and look at the small print to find its another legal scam.

If you are single, no one to leave the house to, get the max. Equity Release and have a great time spending the money, when you pop your clogs it’s the insurance companies responsibility to sell the house.

I wouldn’t give them the pleasure, adverts for idiots on the telly and everytime I saw Boredmann on the telly flogging them I threw something soft at it.
You are basically taking out a loan on compound interest and the house you paid for is no longer yours in effect …plus the conditions that go with it.
Daft couples on the advert saying “We took equity release to enjoy the cruise of a lifetime’…aye, it’ll be the most expensive cruise since the Titanic when the dust settles.

or just sell the house and rent somewhere. even at todays renting prices its going to take a long time before your money runs out. if you are 65 you could easily die in the next 12 months or live another 30 years. thing is none of us really know. even if you have family why should you struggle for them after you struggled to bring them up. most will have two arms and legs like i had and nobody had any money left to give me when they died or really expected or wanted it either. some deserve jack shit as they moan about their parents going on a spending spree seeing their inheritance going down the pan.

That's cheap...and it leaves plenty over for a little tuk tuk into town and a bit of you know you what.

The word ‘clinic’ comes to mind.

I know somebody who has done equity release in order to give their son a decent deposit on a house. He said he was giving him some of his inheritance up front in order to give his son a start on the ladder and reading between the lines they wanted the son to leave the nest. He showed me all the detail and there is no compound interest. He just pays a monthly interest which is fixed at just over 3% per annum for the full term however long that is thus eliminating any growth in the release through compound interest. He did the deal when interest rates were a lot lower than they are now so currently his deal wont be available now, so anybody contemplating doing it at present terms would pay a lot more interest. On top of that his house has gained in value so the amount borrowed is almost covered by that gain.
I checked all this out with a mate of mine who is a well respected financial advisor and he said most equity deals now are done on paying off the interest at the point where the interest is applied as this eliminates the compound factor, which was putting people off.
It's obviously not for everybody and most people, having worked their bollocks off to become mortgage debt free, might be just a tad reluctant to start all over again with a monthly interest repayment but every £10 k released at 3% carries a monthly interest payment of £25, so £50k released would have cost an interest payment of £125 per month. You can more than double that at current rates. The trouble is will interest rates become that low again. Anybody considering doing the deed would be advised to think long and hard at today's rates.
If you want to release equity from your current property, it is probably worth downsizing and therefore getting a pot of cash that way.

Unfortunately many of us wouldn’t be in a position to go back to work if we lost our little nest egg that’s why me personally are very careful about any financial scheme which promises high returns I avoid.

On the subject of retirement I'm back in the land of the living after falling over in the garden a couple of weeks ago. I badly hurt my right side, leg, arm, wrist and hand which stopped me "typing" - I'm useless at left hand typing, would take me for evermore.

It was nice to be looked after by the dear old wife and hope to be fully ok to carve the Turkey on Christmas Day.

Load of reading to catch up on now.

Best wishes for Christmas and an early Happy New Year to all forum members.

Glad you”re on the mend mate and good to see you back. Best wishes to you and yours