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Pensioners Who Would Rather Spend It Than Pass It On
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PostPosted: Mon Apr 20, 2009 11:45 am 

Joined: Mon Apr 20, 2009 11:37 am
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I had wondered if this was something that is happening more and more and then I found a really good blog entry on the Audley Retirement site about those retired choosing not to save, but spend instead. I wondered if anyone else had chosen to spend instead of save?

· Financial and physical independence is key issue for UK’s elderly
· Less than 20% of pensioners feel duty-bound to support their kids
· 70% of pensioners estimate their estate at £150k+
· But 25% still don’t have a will

Independent research commissioned by Audley Group, a leading operator of retirement villages, shows the rise of the ‘Silver Spender’, pensioners who are keen to spend their savings to ensure their physical independence and comfort. 80 per cent of over 65s aren’t looking to their children to support them and 15% believe that if they earned it, they should spend it!

For the UK’s 11 million pensioners, the biggest fear is of illness affecting their independence and enjoyment of life (60%), second comes the threat of ending up in an ‘old folks home’. Instead, this group is prioritising their own quality of life over the pressure to leave money to their children in their wills.

Disappointment in Store For Under 45s
A mere 16% of those over 45 think a parent’s role is to provide financially for their children. Which looks likely to lead to a lot of disappointed under 45s – 29% of them think they can rely on their parents to keep doling out the cash.

Fo rthe full article have a look at:
It includes some really nice statistics from the UK regions and which of us are saving money and which are spending it all!!


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