Younger people are holding back from major life decisions, such as buying a home, starting a family or dealing with debt, until they inherit wealth from their parents or grandparents, a survey by Killik & Co has suggested.
The survey, which polled 1,000 individuals, found three-fifths (59%) of under-35s felt unable to buy their first home before receiving an inheritance, while almost a quarter (22%) said they were postponing starting a family. The investment house said the survey results showed a "disturbing disconnect" between the expectations of younger and older generations when it comes to wealth transfer. It found fewer than one-in-10 (7.6%) of over-65s planned on passing on the majority of any inheritance during their lifetime, while twice as many (17%) under-35s expected to receive an inheritance...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
