Close Menu
BestNewsOnline
    Facebook X (Twitter) Instagram
    BestNewsOnline
    • Retirement planning
    • Insurance
    • Real estate
    • Subscription
    BestNewsOnline
    Home»Personal Finance»Half of parents ‘hope to influence children’s life choices when they give money’
    Personal Finance

    Half of parents ‘hope to influence children’s life choices when they give money’

    January 10, 20232 Mins Read
    WhatsApp Facebook Telegram

    According to a survey, more than half (53%) of parents hope to influence the future and life choices of their children when they give money.

    About two-fifths (43%) of parents believe a home is the best investment they can make for a child, according to research from wealth manager Killik & Co.

    Nearly one-fifth (19%) of parents aged 55 and over said that concerns about their children’s and grandchildren’s finances will also influence their donations.

    Overall, about seven in 10 parents and grandparents (71%) surveyed plan to bequeath money to younger generations.

    But more than half (54%) of adults don’t have a will, according to the research.

    Just over a fifth (22%) of parents said they would be disappointed if their inheritance intentions were not realised.

    Around three out of 10 (29%) people over 55 surveyed do not have a will.

    Will Stevens, Financial Planning Manager at Killik & Co, said: “For those lucky enough to be able to leave a gift, we find that many have a specific goal in mind for this.

    “Whether it’s funding a private education or helping buy a home, many have a clear idea of ​​what they’d like the recipient to use for the gift. However, without a clear plan, this could be overlooked.

    “Furthermore, financial planning also allows you to potentially make a more efficient gift, with advisers able to explain key estate or capital gains tax rules and how to make the most of it. that the tax system offers you.”

    He said testamentary or inherited plans should be kept up to date as priorities change.

    Some 2,100 parents were interviewed.

    Add A Comment
    Leave A Reply Cancel Reply

    What's hot

    Caesars Ohio Promo Code: Claim the $1,500 NFL Sunday Insurance Offer

    January 1, 2023

    10 Cheapest Homes Sold on Cape Cod November 6-12

    November 14, 2022

    Can underground rooms be listed in square meters?

    October 29, 2022

    The housing market is worse than you think

    November 4, 2022
    Don't miss

    Real estate securitization: a growing market with a long-term horizon

    November 28, 2022

    Local data suggests a stabilization of the real estate market | Company

    December 28, 2022

    Real Estate Source, Inc. Helps New California Residents Find Dream Homes

    October 25, 2022
    Picked for you

    LACERA invites tenders for the system’s emerging real asset management program

    Retirement planning February 2, 2023

    The Los Angeles County Employees Retirement Association invites proposals from qualified companies to implement the…

    BestNewsOnline.net is owned and managed by

    Top10 International FZ LLE
    Office 2002, 20th Floor, Creative Tower
    Fujairah, United Arab Emirates
    TRN: 100608946800003

    • Home
    • Contact us
    • Privacy policy
    • Terms and services

    Type above and press Enter to search. Press Esc to cancel.