Later Life Advice For Over-55s

When you reach your mid-50s, you are fast approaching retirement! You will, no doubt, have worked hard throughout your career, but how will your finances hold up to support you throughout your retirement? MaxLyte Later Life Advice is specifically tailored to help anyone over the age of 55 to understand how they will be affected in their retirement by the state of their finances. As a part of our Later Life Advice service you will benefit from our expert advice as to how to best manage your assets and finances to suit your lifestyle.

We can also give you a graphic illustration of just how long your money is likely to last. Have a look at our video on the Cash Flow Modelling page to see this in more detail.

We initially ask you to complete a comprehensive questionnaire of your income (pensions, salary, etc.), your assets (house equity, shares, cash, valuables, etc.) and your spending (mortgages, bills, groceries, day-to-day enjoyment, etc.). Using our financial analysis tools, we will be able to analyse and adjust your figures to work out a plan with you, which will enable you to make the most of your retirement. Being a Registered Life Planner also means that we work towards your personal long-term goals and ambitions, by advising strategies which will best fit in with these goals.

Having evaluated your financial situation, long-term goals and current lifestyle with you, we will work together to explore the best options open to you, which will provide the maximum benefit for you. These strategies could include:

• Using Lifetime Mortgages
• Investment Portfolios
• Inheritance Tax Planning
• Long Term Care Planning
• Pre-Arranged Funeral Plans

In addition, MaxLyte Later Life Advice can help with the complex and often fraught topic of probate and estate administration.

We believe there is a brewing problem for hundreds of thousands of people who have interest-only mortgages with no pre-planned strategy of repay the mortgage. This means they could be entering retirement faced with the prospect of their mortgage reaching its contractual end date and then having to sell or move.

We have produced a market report for you to read about this problem.

The report includes:

• An explanation of the interest-only mortgage problem and the extent of the problem.
• Why you cannot rely on your mortgage lender to ‘play ball’ when your mortgage expires, why they will be under no obligation to offer you extended or fresh terms.
• How market conditions could change and you could become stuck.
• Why it is unlikely you will find alternative mortgages available to you.

To download this report please click here.