Saturday, June 27, 2009

1.8 million UK grandparents save for the grandchildren

The importance of grandparents' spending and wealth transfer to their grandchildren must not be undersestimated, or worse ignored.

Grandchildren are important to their grandparents. Day in and day out, gramps and granny are spending large amounts of dosh on their kids children.

This bit of research from Saga concludes that 13% of the grandparents (1,800,000) regularly save money for their grandchildren and that 20% of grandchildren will receive a pots of £10,000+ when they reach adulthood. The way the UK economy is going they will need it!

I would have thought this intergenerational dynamic is of great interest for the Financial Services Industry. Dick Stroud

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