A new year offers a new start and nowhere is this more evident than in the phenomenal response to YourLifeChoices’ Should you downsize in 2016 special report, sent on 4 January. A staggering 81 per cent of our 135,000 members opened this 20-page guide, to learn more about the emotional and financial pros and cons of downsizing and how this might help them have a more fulfilling and affordable retirement.
We became aware that there was an appetite for information on selling the family home from a recent survey in which a substantial 37 per cent of our members had stated that they were considering downsizing their current home. The survey also revealed that a further 12 per cent are thinking about taking out a reverse mortgage, and nine per cent are considering taking in paying guests.
Even if only half the respondents go ahead and sell, this is a massive trend with wide-ranging implications for the Australian property market, as well as the lives of the individuals involved.
It’s becoming a luxury to own your own home outright in retirement and so it can be very tempting to cash in on some of that equity in order to increase your retirement income. This is evident in the response to another member survey question, “Do you think you have/will have sufficient income to lead a reasonable retirement lifestyle?” – with 46 per cent of respondents answering “No”. So instead of working longer, hoping to receive a windfall inheritance or living on less, many older Australians are considering ways to use the equity in their homes. Others are tired of maintaining a property that is now too large for their needs and some just want a simpler ‘lock-up’ lifestyle closer to cafes, restaurants, beaches or other attractions.
So why, in particular, did our downsizing eBook enjoy such a high response rate? Apart from the obvious relevance of downsizing to our retiree audience, our members have come to expect independent accessible content from YourLifeChoices, that is relevant to their age and life stage.
Understanding that downsizing is the topic du jour for those seeking a comfortable life after work, YourLifeChoices created the editorial that matched our members’ requirements. Should you downsize in 2016 will now be updated and distributed on a quarterly basis, keeping our members up-to-date with all financial, Centrelink, legal and superannuation implications.
YourLifeChoices publishes a range of special reports each year, including the quarterly Retirement Update, the annual Essential Guide to Cruising, the quarterly Age Pension explained, Guide to hearing health, and soon, the inaugural Essential guide to baby boomers travel in Australia. Exclusive sponsorship opportunities exist for every special report that provide extensive contextual branding opportunities, including custom content for partners. Each guide is sponsored by an advertiser and includes a logo on each page, two full-page colour advertisements and tailored content. Want to find out more?