Grandparents financially support children and grandchildren

News Team, 08/12/2022

One in six (16 percent) older Brits are financially supporting both their children and grandchildren on a regular basis, with the average grandparent handing out £71,942 in monetary support.

According to research by digital wealth manager Moneyfarm, grandparents over the age of 65 regularly help the younger generations out with both essential - such as rent, mortgage and energy bills - and non-essential expenses, including clothes, ...

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