I read recently the UK baby boomers who are gradually dying out are currently estimated to be worth about £14 Trillion, (7 times the UK annual GDP) which will be inherited by their children and grandchildren on a level never experienced before in history. So the really fortunate generation are not the baby boomers but their kith and kin through the unprecedented scale of inheritance falling into their laps in the coming years.
You know what they say, be nice to your children, they are going to be the ones choosing your care home :-)
There might not be much left to inherit if the savings get swallowed up in care home costs, especially if we stop cheap immigrant labour coming in and face the inevitable rise in wages for workers?
Many inheritance would quickly get swallowed up in paying for a nice care home, the posh one near us charges £75k a year. It is very nice mind you, but then again there must be loads of rich boomers who have alienated their kids and will end up being dumped in the cheapest places so the kids can pay off their mortgages.
Tim H. 1986 4/4 VVTi Sport, 2002 LR Defender, 2022 Mini Cooper SE
