Recent research conducted by Saga Personal shows that half of the parents surveyed believe it is important to leave an inheritance for their children.
Children, however, are much less interested in an inheritance and would rather their parents spend their money and enjoy their later life and retirement. From those surveyed, three quarters of people say they would rather their parents spent their money in retirement than leave them an inheritance, yet when it comes to parents only a quarter say they are not concerned about leaving an inheritance for their children, with the majority (81%) hoping that they can leave something. Just under half believe so strongly in the importance of leaving an inheritance they say that they will not spend frivolously in retirement to ensure there is something left behind for their children.
Many are using equity release to secure themselves a comfortable and enjoyable retirement, presumably as their children would wish. 4 in 10 use some of the money for the holiday of a lifetime and 60% use Equity Release to fund home improvements, either to maintain or to improve their home and often to adapt it to ensure that they can remain in their own home for as long as possible.
Call us now on 01204 884545 for more information on Equity Release Plans
* Populus interviewed 2,048 UK adults aged 18 and over, online between 26th and 27th November 2014. Populus is a member of the British Polling Council and abides by its rules.