Many people do find that they become short of money in later life. The situation has not been helped by the low interest rates, as so many people rely on interest from their savings to get by and the pension from the government is often just not enough to live on, especially as the price of fuel and other commodities is so high. Discovering information about financial products that can help you is simple with the advent of the Internet. Online websites make it extremely easy to find whatever financial details you need to make an informed decision.

Discovering Financial Help
One option is to look at companies such as Equity Release Supermarket who can advise whether equity release would be a good idea to take out of your home. This will give you a tax free lump sum to live on and in return they take part or full ownership of your home. The size of the tax free lump sum is determined by three factors; age, property value & your health/lifestyle.

You still have lifelong enjoyment of the property, which means that you can make full use of it in your old age and it will only pass to the company when you pass away. For some, this can be a very good answer as it is not the ideal solution to have to scrimp and save through your retirement years.

Some people do not like this idea as it means that they will have nothing to leave their children, but most offspring would say that they preferred it if mum or dad had a happy retirement.

Expanding on the Equity Release Concepts
Confusion is very easy when you first read about equity release for retirees. In fact, the above few statements might have you pausing, so here will be a more straightforward approach to the situation.

• Home reversion: a partial or full sale of your home. Not a mortgage, but a release of tax free cash to the owner who is 65 years or older. Anyone 65 years or older living in the home can be named on the lifetime tenancy agreement and live in the home rent free until death or a decision to sell the rest of the home and move to a new place.
• Lifetime mortgage: a type of loan. This loan carries fixed interest rates which compound onto the principle balance for the life of the loan. The life of the loan is termed as your life and anyone who is 55 years of age named in the lifetime mortgage agreement. Like home reversion unless death or a decision to sell and move is made, anyone named in the agreement can remain in the home and not have to make repayment on the loan.

With these two definitions you can clearly see there is a choice to your retirement situation. You also know that your family would like to see you happier during your life and retirement than worry about an inheritance left for them later on. Yet, there are some options for you.

Inheritance Preserved
• You can elect to downsize your home and buy a new one leaving some funds for your expenses. This gives a new home as the inheritance.
• You can decide to set a portion of the property aside in an inheritance guarantee with the lifetime mortgage. In this situation the mortgage is calculated without the use of a certain percentage of the home, a guaranteed percentage of inheritance.
• With home reversion any portion of the home still under your ownership can be used to leave an inheritance.
• You can also elect to pay the interest on your lifetime mortgage leaving only the principle balance to be repaid and thus the rest of the home value for your family.

Utilizing Resources to Learn More
The above has glossed over some of the typical information you will discover when you use websites like the aforementioned equity release supermarket. As you look at individual products currently on the market you might have more questions. Luckily there are always news, blogs, and additional website resources that can help you find the answers you seek.

The most important concept here is that you are comfortable in your older age. To be able to find this comfort it often takes products like those at Equity Release Supermarket. These products are designed for you based on the aforementioned concepts. Consider the different products, compare, and seek independent advice as a means of discovering what works best for you, your family, and other beneficiaries.