You've spent years building a life, paying off your mortgage and planning for the future. However, as retirement approaches, one question may linger: Will I have enough income to live the retirement I want?
For those who have followed a traditional path, perhaps choosing to save for retirement through pensions, the answer may be more straightforward. Yet not everyone has the same opportunity to prepare for the long-term throughout their working life. For many women, career breaks, caring responsibilities and part-time work can leave retirement savings lower than expected.
While it may not look familiar, your retirement plan could involve various assets you’ve acquired throughout your life.
Your home: more than just a place to live…
Your home could be your most valuable asset. It’s not just a place to live but also a potential source of financial support for your retirement.
For many homeowners, the wealth held within their property has grown gradually over decades through mortgage repayments and changes in property values. As retirement approaches, some people begin to consider all the assets they’ve accumulated throughout their lifetime. Property wealth remains a key part of this.
Between April 2020 and March 2022, net property wealth made up the largest proportion of household wealth in Great Britain, ahead of private pension, net financial and physical wealth. [1]
Fairer Finance’s September 2026 Retirement Compass report estimates that around two-thirds of single female homeowner households aged 55–79 have projected average retirement income below Pensions UK’s moderate Retirement Living Standard. [2]
This is why some people begin to see their home not just as somewhere they live, but as part of their wider financial picture.
Why retirement doesn't always go to plan
Life is rarely predictable. Career changes, raising a family, caring for loved ones, periods of part-time work or unexpected life events can all influence how much you’re able to save over time.
While these responsibilities can be rewarding, they can also come with financial compromises. Time spent away from paid work may mean reduced pension contributions, lower earnings or fewer opportunities to build long-term savings. These effects can build up gradually over the course of a working life and may not become fully apparent until retirement comes into view.
The impact on women in retirement
Crucially, according to the Pensions Commission Interim report, these life events are more likely to affect women than men. More specifically, it suggests that these life experiences can impact women's private pension savings. [3]
Some women may reach retirement with lower pension savings than they originally anticipated. But pension savings are only one part of the story.
Making the most of the wealth you have
For homeowners aged 55 and over, equity release may provide a way to access some of the value tied up in their property while continuing to live there. The money released could be used in different ways depending on individual circumstances, from paying for home improvements to helping loved ones financially.
A lifetime mortgage is borrowing secured against your home. If interest is not paid, it is added to the loan and compounds over time, increasing the amount owed and reducing the equity remaining in your property. Early repayment charges may apply if you repay the loan early.
Depending on your situation, it could be worthwhile considering accessing wealth from your property as part of your wider retirement plan.
Understanding your choices
There is no one-size-fits-all approach to retirement.
The decisions you've made throughout your life and the opportunities you've had will shape your financial position in later life. When considering future plans, it’s important to look at your circumstances as a whole.
An adviser can help you compare equity release with alternatives, such as downsizing or using other savings, and consider your longer-term needs.
While some options may be more suitable than others, property wealth could play a role in your retirement conversations. Take the time to explore your options with an adviser and find the right approach for you.
Sources
1. Office for National Statistics, Household total wealth in Great Britain: April 2020 to March 2022, published 24 January 2025. View source
2. Fairer Finance, The Retirement Compass, September 2026, Table 4 (page 27). The model estimates 8% below the minimum standard and 57% between minimum and moderate. View source
3. Pensions Commission, Pensions 2050: Evidence and Future Priorities, interim report, May 2026, Chapter 4. View source
