Should I get an endowment now or wait as they may get better? I am about to sell a holiday house
23 February 2022
Question by sue
I am 70 and only have a state pension. I am about to sell a holiday house business and wonder if I should get an endowment now or wait as they may get better?
I will have £150,000 free money.
Answered by Bodie Dove
Thank you for your question.
Without knowing your exact circumstances it is hard to provide you with a definitive answer. I would like to have more information including:
What are your monthly outgoings, how much extra income to your state pension do you require?
Are you in receipt of any other state support?
What is current state of health and are there any medical factors or family medical history to consider?
Would a more flexible solution be more beneficial to you and any family, for example do you have anyone that you would wish to benefit from your estate?
Generally speaking standard annuity rates aren't very attractive at present and may not provide you with the level of income or flexibility you require.
I would be more than happy to have a free initial conversation with you to discuss all of the above points to assist you in your decision.
My contact details are:
Chartered Financial Planner
I’ve always enjoyed problem solving and I take a personal approach to finding solutions that provide a genuine, positive change to my clients. I am passionate about attaining the best approach to help each client understand and then take control of their finances so that they can create a plan to fund their future goals. I like to think of myself as the satnav helping them to get from point A to Z on their financial journey.