Parents should spend their money and not worry about their children

[Rasputin]

Equity release should be a real option for people to finance their retirement. I don't think the products are there in this country in terms of cost and simplicity etc to make it an option for many unfortunately. Everyones situation is different, but it seems absurd to work and struggle all your life to buy an asset that you will never benefit from, and then watch from the grave as the vultures fight over it.
I'm sure I will leave assets behind of some kind, but it certainly won't be something I will be actively trying to build, and my focus will be trying to enjoy them as best I can.

 

[DannyBoyD]

then watch from the grave as the vultures fight over it

thankfully I don't believe in ghosts & I don't think the majority of parents view their offspring as vultures.

 

[losttheplot]

Equity release should be a real option for people to finance their retirement. I don't think the products are there in this country in terms of cost and simplicity etc to make it an option for many unfortunately. Everyones situation is different, but it seems absurd to work and struggle all your life to buy an asset that you will never benefit from, and then watch from the grave as the vultures fight over it.
I'm sure I will leave assets behind of some kind, but it certainly won't be something I will be actively trying to build, and my focus will be trying to enjoy them as best I can.

This is an option in France.

"You get to buy a property from an elderly person for a significantly reduced price. In return, the seller gets to live in the house for the rest of their life, while they collect an annuity payment (usually monthly) from you."

A Dead Easy Way to Buy a Cheap Home in France - Overseas Dream Home

I’m not a gambler. I like a sure thing. Especially when it comes to real estate investing. However, there are tantalizing deals out there for folks willing to accept some risk. One of the most intriguing of all are “vente en viager” deals found in France and Belgium. The term “viager” owes its...

overseasdreamhome.com

 

[WizardDr]

This is an option in France.

"You get to buy a property from an elderly person for a significantly reduced price. In return, the seller gets to live in the house for the rest of their life, while they collect an annuity payment (usually monthly) from you."

A Dead Easy Way to Buy a Cheap Home in France - Overseas Dream Home

I’m not a gambler. I like a sure thing. Especially when it comes to real estate investing. However, there are tantalizing deals out there for folks willing to accept some risk. One of the most intriguing of all are “vente en viager” deals found in France and Belgium. The term “viager” owes its...

overseasdreamhome.com

And they have cheaper mortgages as well (!) I am afraid we are consigned to the behaviour of oligopolists and with their ability to extract interest from us and pay little back these products that you mention don't get a look in as they are too much like hard work.

 

[Rasputin]

thankfully I don't believe in ghosts & I don't think the majority of parents view their offspring as vultures.

No one ever does. I definitely don't think mine are, but sadly you see siblings falling out and taking entrenched positions time and time again, and everyone always feels hard done by. My point is more that my kids will know not to be relying or expecting anything.

 

[ClubMan]

Equity release should be a real option for people to finance their retirement. I don't think the products are there in this country in terms of cost and simplicity etc to make it an option for many unfortunately. Everyones situation is different, but it seems absurd to work and struggle all your life to buy an asset that you will never benefit from, and then watch from the grave as the vultures fight over it.
I'm sure I will leave assets behind of some kind, but it certainly won't be something I will be actively trying to build, and my focus will be trying to enjoy them as best I can.

I don't disagree with your general point but you do remember hysteria like this?

Life Loans

Joe spoke to Anne who took out a Life Loan with bank of Ireland, 15 years ago, which released 80,000 euro equity on her home. She is now 80 and owes 250,000 euro. Catherine spoke on behalf of her mother who is 90 and was too upset to talk to Joe about the stress and the worry of this loan. Joe...

www.rte.ie

 

[jpd]

This is an option in France.

"You get to buy a property from an elderly person for a significantly reduced price. In return, the seller gets to live in the house for the rest of their life, while they collect an annuity payment (usually monthly) from you."

A Dead Easy Way to Buy a Cheap Home in France - Overseas Dream Home

I’m not a gambler. I like a sure thing. Especially when it comes to real estate investing. However, there are tantalizing deals out there for folks willing to accept some risk. One of the most intriguing of all are “vente en viager” deals found in France and Belgium. The term “viager” owes its...

overseasdreamhome.com

There was a case of this in France years ago - the elderly person was 60 or 70 and sold it to younger buyer with the right to live in the house till she died

She did die eventually but lived to 100+ - the buyer died before her

 

[CoolHand]

Equity release should be a real option for people to finance their retirement. I don't think the products are there in this country in terms of cost and simplicity etc to make it an option for many unfortunately. Everyones situation is different, but it seems absurd to work and struggle all your life to buy an asset that you will never benefit from, and then watch from the grave as the vultures fight over it.
I'm sure I will leave assets behind of some kind, but it certainly won't be something I will be actively trying to build, and my focus will be trying to enjoy them as best I can.

Would very much agree. Looking on Irish Mortgage Corporation site and the equity release section, seems like a straightforward product offering. Lump sum amount based on age and property value.

Everyone will have a different "number" they need for a comfortable retirement based on their circumstances. I always think people should consider all that is open to them and if it was right for them. Then maybe consider the following:

• What will I get from the state?
• What will I get from private pension / investments?
• Can I, or do I still wish to work in some capacity?
• Would I consider renting out a room?
• Could I downside, is there local suitable / affordable accommodation?
• What can I fund from my home through equity release?
• Could I sell assets to raise funds? (what would CGT tax cost)

In an ideal world, everyone is covered by the first two. Unfortunately, that is increasingly not going to be the case.