The recent rise in the cost of living (36%) and a new birth in the family (34%) are the most cited reason for inter-generational financial planning amongst UK households, according to the latest Scottish Widows Future Finances Index (FFI).
The report also found that 76% of UK households are still planning for the financial wellbeing of other generations in their families, despite a period of financial and economic uncertainty amongst UK households. Around 68% of people stated the number of generations they include in their long term financial plans remains unchanged from a year ago, while around 15% now plan for a greater number of generations, it revealed. Additionally, 44% of households would consider one other generation in their long-term financial plans, with a further 27% expecting to account for two generations. ...
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