Some Brits are spending more on looking after their parents than children!
Research by Vitality Life has shown that two in five Brits (40%) expect to financially support their parents. The so called “sandwich generation” already has 1 in 10 UK residents spending more on care for their elderly parents, than their children. With the number of UK citizens with dementia estimated to be around 2 million by 2051 and life expectancy growing, it demonstrates need for long term planning in this area.
Matthew Eaton IFA suggests – “Parents need to consider the impact of what not adequately planning for their retirement will have upon their children and grandchildren.”
You can more read in this article from Cover magazine here.
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M.S. Sykes
Business Development and Relationship Manager
Joined 1st Financial Group in early 2018 and has previously worked in business succession and financial planning in Australasia. He is responsible for the online marketing, creation of marketing collateral and building strong relationships with stakeholders. In his spare time he enjoys long walks, studying finance, travelling and the gym.
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