Retired life could become nerve wrecking if emergency cash requirements are hard to come by. The pension would be insufficient to handle an emergency surgery or repairs to the house. For such people equity release schemes do actually work, if they happen to own a house. The equity built into own homes could be tapped and quite large amounts can be realized for the purchase of a new car or a well deserved holiday. It is important that the person who opts for this equity release scheme lives in this house for at least six months and the house must be worth at least seventy thousand pounds. The money invested in the house can become useful in providing the required funds for a hospitalization. Regular income during the retired life can make the person cheerful and feel that life is enjoyable. Annuity schemes from insurance companies would ensure regular and guaranteed returns every month to the retired person. Excellent annuity rates would make the returns from the annuity schemes very attractive. This would make the annuity option an even better choice than to invest funds in a bank for receiving regular interest amounts. Further, the annuities can be completely sold in case a requirement for large amounts arises.