Should enjoying retirement be a priority over leaving an inheritance?

Posted: July 17, 2012 at 3:14 am


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By Joanna Robinson

PUBLISHED: 04:23 EST, 16 July 2012 | UPDATED: 11:42 EST, 16 July 2012

Pensioners are increasingly unwilling to sacrifice their quality of life in retirement in order to leave their relatives with an inheritance, a new study has claimed.

The research, from specialist insurer Just Retirement, has revealed a shift away from the traditional desire to leave significant assets to family members.

The belief in a duty to leave something for the next generation seems to be waning in those currently approaching retirement, for whom having a good quality of life takes top priority the study says. But is that really a bad thing and wouldn't any child rather their parents enjoyed retirement than scrimping to give them money? Joanna Robinson takes a look at the debate.

The good life: pensioners choose quality of life in retirement over inheritance for the next generation

The survey, which used 300 hours of interviews with more than 1,000 people, found 61 per cent of older people would not sacrifice their own lifestyle to make sure they can leave money to their family when they die.

One respondent said Id like to leave something to my children if theres anything left, but I wont ruin my retirement.

Another explained: Im not particularly worried as both my daughters are doing well.

One of the most interesting findings is the clear difference between generations, said Stephen Lowe, group director of external affairs and customer insight at Just Retirement.

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Should enjoying retirement be a priority over leaving an inheritance?

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July 17th, 2012 at 3:14 am

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