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Financial planning for retirement
Budgeting for later life? Discover how McCarthy & Stone can support you with financial planning for retirement, including finding an affordable home.
How to financially plan for retirement
From housing options to making the most of your money, planning the financial side of retirement is not just about your pension pot. You’ll need to think about:
- Budget: how much do you have to spend when you look at the big picture?
- Support: as you get older, you may need to pay for extra help to continue to live in your home
- Entitlements: many people aren’t aware that they may be entitled to a range of benefits in later life
- Housing: choosing where to live is one of the biggest financial decisions you’ll need to make.
Financial planning tips for retirement
Whether you’re just starting to look into retirement properties or need help understanding what your entitlement benefits are, McCarthy & Stone is here to help with your financial planning. Here are five ways we can support you:
Save over £3,000 a year* on household bills with McCarthy & Stone
Besides a stunning, energy-efficient retirement home with beautiful communal facilities and thoughtful on-site services, a McCarthy & Stone retirement property could save you over £3,000 a year compared to running a typical home*.
These savings are due to:
- Lower heating, water and other utility bills, including Council Tax and reduced home insurance premiums
- The high-quality support provided by McCarthy & Stone, including our award-winning Lifestyle Services
- Access to the managers, emergency call systems and shared areas, like lounges, gardens and restaurants
- Our teams taking care of all the gardening, decoration and maintenance in the communal areas and gardens.
Then there’s the increased well-being and happiness most of our homeowners experience when moving to our communities – that’s priceless!
Save over £30k a year on care
The average person in a residential care home pays £67,496 a year. In comparison, someone in a McCarthy & Stone Retirement Living Plus development, paying for an additional care package of six support visits a day, will pay less than half that amount, even with the service charge on top.
Working out your budget
Before you talk to us, it can be helpful to work out your budget. Calculate your income, including savings, investments and the equity in your home, as well as your pension and any entitlements. Then calculate your outgoings – thinking about bills, groceries and essentials as well as hobbies and holidays. Once you have worked out your baseline financial information, our team can support you with the rest.
How can I find out more?
The best way to understand retirement living is to experience it for yourself. Visiting a development offers a real sense of the lifestyle, the community and the feeling of being at home.
Browse our retirement communities near you, contact us or call our lovely team on 0800 201 4811.
*Typical savings between £213 - £3,107 on your household costs: Calculated by comparing the annual costs of energy (gas and electricity), window cleaning, garden maintenance, and building and contents insurance with McCarthy & Stone’s average annual charges for the same household services for a one-bed and two-bed Retirement Living apartment in Wisteria Place.
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