Even though 10 per cent of adults are seriously considering how exactly they plan to fund their retirement, some are taking their heads out of the clouds and realising that it is all too distant a dream. The rising house prices which are highly disproportional to the average wage of someone in their twenties mean that children could end up living at home until they are well into their thirties.
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One in seven parents are so concerned about this prospect that they have started a fund for their newborn baby so that they get a real helping hand on the property ladder in years to come.
Yorkshire Banks head of retail, Gary Lumby, said: It is encouraging to see so many parents are looking ahead. With the current pensions crisis, climbing down the property ladder could provide one solution to parents who have little savings but are looking to retire and improve their lifestyle.
Another interesting option thrown up by the banks research was that Brits are considering moving parents or grandparents into their home to minimise the impact of Inheritance Tax.
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