Six in ten over-65s provide financial support for younger generations in their family
Dailystar.co.uk
1 min read
Six in ten over-65s provide financial support for younger generations in their family,More than a fifth help with education costs, and one in six contribute to everyday errands - with three-quarters of 18-40-year-olds saying this support is 'very important'
Six in ten over-65s provide financial support for younger generations in their family
The most valuable skills that young adults feel those aged 65 and over have to offer include giving advice, sharing historical knowledge – and financial support, research has found.
A study into relationships between different generations has revealed that six in ten over-65s are offering monetary support to their younger relatives – with a quarter of those contributing towards holidays and leisure costs.
More than a fifth (22%) help out with education-related costs, while 23% provide care to younger relatives – and 17% simply help out with everyday tasks, like shopping or driving costs.
And a poll of 2,100 UK adults found that this financial support does not go unnoticed by the younger generation – as three-quarters (76%), of adults aged 18-40, say this is somewhat, or very, important to them.
Nick Walker, from Edwards Lifesciences UK and Ireland, which commissioned the research and created the Unifying Generations report, said: “The report sheds light on the pivotal social and economic contribution of the senior population, and demonstrates the importance of protecting their health and well-being.
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