Investment giant Fidelity recently surveyed people about their retirement plans and whether or not expected inheritances were part of their plans.
According to Fidelity, almost 50% of under 35’s were relying on an inheritance to bolster their retirement. The expectations fell for older people with 33% of 35 to 54’s and 17% of over 55’s expecting an inheritance.
The amount of inheritance expected ranged between £75,000 and £100,000.
Our view
As with everything, never have all of your eggs in one basket. No one knows when or if they will really inherit because a lot can happen along the way.
Our advice to everyone is to make their own retirement provision in whatever way the need to. That way, any inheritance is a bonus and will enhance retirement. And, if the inheritance never arrives, at least you have looked after your own future.