Many UK citizens nearing retirement age are facing an uncertain future. The government pension is not adequate to provide a decent standard of living! Pension annuities from money purchase schemes give poor returns and for the unfortunate people in company schemes that have collapsed there is often nothing there anyway. Life in the UK is looking grim for many people.
( See also: Property Pension Rules April 2006 )
Is there a solution to this?
In the long term we can only hope that the politicians have the wisdom to come up with an answer. However, in the short term and for those for whom it is already too late the only solution is to ‘think outside the box’.
Most UK citizens have at least one major asset, their house. By the standards of many countries house prices in the UK are very high and so there is a lot of equity locked up in bricks and mortar. Some people are able to downsize within the UK if their property is big enough and valuable enough. However, what about downsizing and trading sideways to find a dream retirement home in the sun and at the same time solve your long term income problems and even make a little money.
For years people have been doing just this and retiring to Spain. However, Spain’s popularity has eventually caught up with this solution. Property prices in many areas of Spain are relatively high, in some places as high as the UK. However the cost of living is still lower than the UK. One hundred pounds sterling per week will secure a good standard of living.
The GPG can still help people find the remaining locations and properties in Spain and many other popular locations that will meet their ongoing lifestyle requirements. It just requires more local knowledge and access to property in many more areas than most Companies or agents can offer.
We encourage potential clients to contact us to discuss their requirements in detail rather than randomly going on a cheap inspection trip to somewhere that may not meet their long term needs!
The eastern Mediterranean: once again people can capture those low property prices and low costs of living that have disappeared from most European locations.
Would you be interested in this scenario?
* A 2 bed apartment in a seaside resort from £30,000 or
A 3 bed, 2 bath villa with pool from £50,000
* A weekly cost of living for 2 people including all bills of around £25 (monitored in 2004/5)
* A bank deposit account that pays up to 19% interest so that £25,000 deposited ‘in country’ will pay enough to keep you comfortable the whole year round (without taking the UK state pension into account)!
* Doctors who will take you on as a private patient for £200 a year.
Does such a country exist?
The answer is yes and it is Turkey. If you have never been there it is beautiful and the people are friendly. Visit and see for yourself. The GPG can help you find the dream home so you can live the good life you deserve. Contact us for more information.
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