An Introduction to Intergenerational Financial Planning

In recent years, the existence of a generational wealth gap has become all too clear. Thanks to a combination of large gains in property and stock markets over the past few decades, and generous final salary pension schemes, the baby boom generation now hold over half of all UK private wealth1. In contrast, today’s younger generation face significant obstacles to accumulating wealth, due to high levels of student debt, expensive housing costs and a jobs market with less secure terms of employment, not to mention the rising cost of saving for retirement. As a result, there has never been such a wide disparity in wealth distribution between the older and younger generations.

A NEED TO OPTIMISE FAMILY RESOURCES

Other societal changes have added to the financial challenges across the generational divide. Increased life expectancy, for instance, means older people are typically living longer, which increases the need for, and cost of, residential and nursing care

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An Introduction to Intergenerational Financial Planning