| Topic: | Re:Re:Re:Re:Re:Re:Re:Re:How Much Do You Need to Retire On? | |
| Posted by: | Joe Conneely | |
| Date/Time: | 22/06/11 11:58:00 |
| Good point Sam - we may well be seeing the first generations of people going into their sixties where they are caught in the "sandwich" you outline, with their parents living longer and looking to their children for support, while their own younger children are still on their parent's payroll. I would challenge that marrying later always causes greater financial hardship - personal pensions or other tax free funds especially with working ages getting longer will usually benefit from people starting to save earlier even if small amounts, due to the tax free accumulation effect. Your comments lead me to wonder if economic changes in society will lead to: More grandparents sharing accommodation with their children versus the drive to move into residential care; Teenagers and early 20s siblings having to contribute to their parents financially rather than live at home "rent free" which seems to be the model I encounter (even if the parents then invest as savings for them) |