Lisa Windley from Royal London Equity Release explores how later life lending supports financial resilience, empowering clients to achieve stability and adaptability during retirement.
Financial resilience is the ability to withstand anything that could impact your financial situation and to bounce back from life-altering setbacks that impact personal finances. It’s how well you can absorb, respond to and adjust to a financial shock. Low financial resilience can have a negative effect on someone’s day to day life. It can lead to financial worry and increased stress and anxiety, which can affect their physical and mental health.
During our round table session at the Later Life Lending Summit, hosted by the Equity Release Council, we discussed the importance of achieving and maintaining financial stability and adaptability throughout various life stages. Our focus was on the critical period of later life, where planning is essential, and we examined how later life lending can be used strategically to support long-term financial goals. The session provided a comprehensive look at its benefits, integration into broader financial planning, and how it can play a role in sustaining financial resilience. Additionally, we delved into consumer behaviours and solutions related to property wealth in later life, offering a well-rounded perspective on the topic.
At Royal London Equity Release, we are dedicated to offering valuable insights and practical tools that empower advisers to support their clients’ financial wellbeing. Our recent session was a testament to this commitment; we want our clients to have a wide variety of options to help build financial resilience, so that they can retire well. Planning and flexibility are key to ensuring financial stability throughout a lifetime, and we believe that equity release may be one option when building a holistic financial plan for retirement.
