Grandparents Prefer Not To Save
Published / Last Updated on 05/11/2007
Resent research by Scottish Investment Trust has indicated that the majority of grandparents prefer not to save on a long-term basis for their grandchildren. Their findings show that only 32 per cent of grandparents save for their grandchildren’s future.
It also indicates that grandfathers are more likely to invest on behalf of their grandchildren, than grandmothers are. Whilst most grandparents prefer to spend money on their grandchildren on a day-to-day basis, saving for their future would give them a head start in their adult life.
Our view
This is a seemingly pointless piece of research. We would expect people who have worked and saved all their lives for retirement to actually spend their money in retirement.
Take a look at Care Fees Adviser to find out more about why you should consider spending some of your wealth.
Useful links:
Learn more about this and related topics in the Care Fees Adviser Channel
Request expert financial advice now
Purchase guidance on financial planning in the Money Shop
