Don't rely on property for retirement income

Simon Chalk, equity release planner at Bower Retirement Services, said some people are planning for retirement by "shoving" as much money as they can into a house to increase its value. They then pay off the normal mortgage so they can use equity release a generation down the line. This is being done instead of pension planning. He said: "This method is dangerous because it makes an assumption that there will be viable and attractive equity release solutions in 20/30 years. You cannot base a decision in the future on what you know today about the state of the market." Chalk sai...