Are you banking on an inheritance to help pay off the mortgage, clear your credit card bills or prop up your pension plans?
If so, you are not alone. A recent survey suggests the majority of people in the UK are optimistic about receiving a generous inheritance, with seven out of ten saying they expect to inherit their parents’ or grandparents’ home.
The survey by vouchedfor.com – a company that puts people in touch with lawyers, accountants and financial advisers – found that six out of ten respondents said they expected to receive a future inheritance, and one in ten of them expected it to be large enough to fund a comfortable retirement.
With strong rises in house prices over the past decade or so, it is perhaps not surprising those in their 30s, 40s, and 50s remain hopeful that a future windfall could prove to be a financial cure-all.
Most in this age group don’t have the generous pensions their baby-boomer parents got.
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