Younger relatives receive £500m in gifts, banks "muscling in" on low-cost investments and learning from Japan - here's our weekly heads-up on the financial stories that may have caught your clients' attention over the weekend …
Retirees gift £500m to help relatives through Covid cash crisis Struggling young people have been gifted more than £500m so far in 2020 as they try to battle the financial problems that have come with this turbulent year, according to The Telegraph. Money to fund a house deposit was the most popular reason for over-55s to pass on wealth to younger people, according to Key, and those in London received gifts worth a substantial £133,000 on average. Looking at the other side of the coin, some over-55s have been using equity release for essential spending and urgent home repairs as th...
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