There are many reasons why parents and grandparents may want to help out younger generations of their family. But new research has shown that in doing so, they are potentially putting their own standard of living at risk in retirement.
The research, by Investec Wealth & Investment, surveyed 1,109 people during September and found that:
32% of parents and grandparents plan to, or are already, making gifts to their children
The average amount gifted each year is £5,206
Of those people ...