"One in six over-40s are concerned they will need to ask their children for financial support in retirement, a study has found. Some 16% of people in this age group with children worry they will need to ask their offspring to bail them out financially as they will not have saved enough for a comfortable retirement, insurance firm MetLife found".
This is a very interesting read from www.mirror.co.uk. The article 1 in 6 parents forced to 'ask their children for cash to fund retirement' - expert tips to prepare yourself in good time explains that insurance firm MetLife surveyed more than 1,100 people over the age of 40 to find out that nearly 30% of them thought their retirement saving was not on track.
Do you think you will need to ask your children for financial support when you retire? Some people think it is only fair, as you would have supported them financially throughout the years. However, this could hinder their own retirement savings.
It is never too early to start planning financially for retirement. We are firm believers that to get ahead, you have to think ahead. Email us on firstname.lastname@example.org if you wish to discuss your retirement plans with a qualified financial adviser.