12th Sept '08 - Destination Dreams Delayed By Debt
Posted on Friday, September 12th, 2008 at 2:30pm
Do you plan on retiring into a life of enjoyment and relaxation? Thought so.
However, according to research by Scottish Widows, this could be increasingly difficult.
The company states that among current retirees, 17 per cent of those who received a tax-free lump sum when they gave up work used it to pay off a mortgage, rather than using it for a trip to the French Riviera or a round-the-world cruise.
People eager to make the most of their golden years and visit some far-flung locations may be advised to take out secured loans to fund their globetrotting activities.
However, according to research by Scottish Widows, this could be increasingly difficult.
The company states that among current retirees, 17 per cent of those who received a tax-free lump sum when they gave up work used it to pay off a mortgage, rather than using it for a trip to the French Riviera or a round-the-world cruise.
People eager to make the most of their golden years and visit some far-flung locations may be advised to take out secured loans to fund their globetrotting activities.
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