Retirement Planning Awards 2022 6 Wealth & Finance International - 2022 Retirement Planning Awards APR2w2 With a passion to make a difference, Lifetime Retirement Income (Lifetime) is offering peace of mind and serenity as its clients look to it for assistance. Founder and Managing Director, Ralph Stewart, – who has been researching retirement income products in 2013 – tells us, “At Lifetime we have an affinity and passion for developing transparent, low-cost, high value retirement income solutions that New Zealand retirees can have confidence in. Our purpose is to help people enjoy their retirement with the security of an income for life.” Ralph launched the first retirement income product in 2016 “which was the forerunner to Lifetime’s latest retirement income solution.” As Lifetime sees itself at the forefront of the industry, it is always striving for greatness through everything that it does as it helps people to manage their income. Ralph shares, “We are excited to be launching a new product that helps retired homeowners to convert some of the equity in their home into a regular fortnightly income. Our new product is called Lifetime Home. It’s similar to a reverse mortgage with a number of new benefits for homeowners.” The services that Lifetime provides are as follows: • A reverse mortgage allows a homeowner to borrow money using their home as security. While interest is charged on the loan, it is not actually paid until the loan is repaid which in most cases is when the home is sold. Under this model the borrower does not know how much the interest will actually be, because the interest rate on reverse mortgages are variable and the term is uncertain. Over the course of our investigation, we have seen rates from 6% to 8%. • Lifetime Home does not charge interest, instead we purchase the right to own a small part of the home each year for 10 years. For example we purchase the right to own 3.5% of the home value each year. At the end of the 10 years the homeowner will retain 65% of the ownership and we will have ownership rights over 35%. The homeowner, and their families, Lifetime Retirement Income is a business making a real difference to the lives of retirees by applying its strength and knowledge to every case it deals with. It is ready to release its home equity release retirement income model and it is very pleased to share its wisdom with the world. Here we speak to Founder and Managing Director, Ralph Stewart, about its solutions and success. has certainty. The home-owner also has the right to remain in the home for as long as they wish. The house is only required to be sold when it is no longer the home-owners’ main residents. • Under the Lifetime Home model we own the right to share in the sale proceeds of the home in the future. If there has been good growth or poor growth in house prices, we share the experience with the homeowner. Under the reverse mortgage model, regardless of how house prices perform, the homeowner has a debt to settle in any event. With Lifetime Home we share property ownership risk with the homeowner as partners not lenders. With a fund with an investment strategy designed for investors (retirees) who want to draw a retirement income, and its Income Projector tool that calculates someone’s unique Annuity Factor combined with Lifestyle choices, Lifetime has everything it needs to promote a healthy bank account for people who are retired/taking retirement soon. By keeping clients Best Retirement WealthManagement Firm - New Zealand informed, Lifetime is ready to support every one of them on their financial path. Paving the way for retirees, Lifetime releases new solutions each year – stacking up its tools and solutions for all New Zealand clients. Lifetime manages over $300 million and has a board of industry specialists that all contribute to its success as well as the seamless help that it can offer to its clients. We are proud to present Lifetime with the prestigious title of Best Retirement Wealth Management Firm – New Zealand. Contact: Ralph Stewart Company: Lifetime Retirement Income Web Address: