{"id":1672,"date":"2017-01-05T12:57:17","date_gmt":"2017-01-05T12:57:17","guid":{"rendered":"http:\/\/www.fpgonline.co.uk\/?p=1672"},"modified":"2023-09-19T11:05:57","modified_gmt":"2023-09-19T11:05:57","slug":"future-wealth","status":"publish","type":"post","link":"https:\/\/www.fpgonline.co.uk\/index.php\/future-wealth\/","title":{"rendered":"Parents Are The Key To Children\u2019s Future Wealth \u2013 Unless They Plan Now"},"content":{"rendered":"<div class=\"\"><\/div>\n<div class=\"\"><\/div>\n<div class=\"\">The findings of a new report by the Institute of Fiscal Studies (IFS) highlights that the wealth of younger generations is likely to become even more intrinsically linked to their parents\u2019 fortunes, and although that has been the case for time in memorial, the report suggests that, \u201cToday\u2019s elderly have much more wealth to leave their children than their predecessors did, primarily as the result of higher homeownership rates and rising house prices.\u201d<\/div>\n<div class=\"\"><\/div>\n<div class=\"\">Over the past decade the average wealth of the UK\u2019s oldest households has risen 45%, to around \u00a3230,000, and more of those households intend to leave it as inheritance rather than spend it during their lifetime.<\/div>\n<div class=\"\"><\/div>\n<div class=\"\">It is true that young adults are finding it hard to accumulate wealth of their own due to a combination of unaffordable first time housing, as well as the decline of defined benefit pensions in the private sector, however, making a commitment to investment and pension considerations at a younger age, as well as new \u2018springboard\u2019 mortgage products, that are essentially assisted 100% mortgages for younger people, could help redress the balance.<\/div>\n<div class=\"\"><\/div>\n<div class=\"\">The idea is that the \u2018child\u2019 takes the mortgage, with the parent or helper (it doesn\u2019t have to be a family member) putting 10% in a linked bank account for a minimum of three years which accrues interest at 1.5% over the bank of England base rate for 36 months. At the end of that period, and providing the mortgage repayments have been made as scheduled, the 10% can be repaid.<\/div>\n<div class=\"\"><\/div>\n<div class=\"\">There are many ways that The Financial Planning Group can help your family prepare for the future \u2013 our aim is to change the fundamental relationship people have with their money, and to give them confidence and clarity in their own finances.<\/div>\n<div class=\"\"><\/div>\n<div class=\"\"><b class=\"\">So, if you are a parent looking at the best way to help your children in the future, or looking for independent advice on your own investment strategy, why not call <strong>Steve Padgman on 020 8614 4782 or email\u00a0<a href=\"mailto:Steve.Padgham@fpgonline.co.uk\">Steve.Padgham@fpgonline.co.uk<\/a><\/strong><\/b><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The findings of a new report by the Institute of Fiscal Studies (IFS) highlights that the wealth of younger generations is likely to become even more intrinsically linked to their parents\u2019 fortunes, and although that has been the case for time in memorial, the report suggests that, \u201cToday\u2019s elderly have much more wealth to leave [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1672","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Parents Are The Key To Children\u2019s Future Wealth \u2013 Unless They Plan Now - The Financial Planning Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fpgonline.co.uk\/index.php\/future-wealth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Parents Are The Key To Children\u2019s Future Wealth \u2013 Unless They Plan Now - The Financial Planning Group\" \/>\n<meta property=\"og:description\" content=\"The findings of a new report by the Institute of Fiscal Studies (IFS) highlights that the wealth of younger generations is likely to become even more intrinsically linked to their parents\u2019 fortunes, and although that has been the case for time in memorial, the report suggests that, \u201cToday\u2019s elderly have much more wealth to leave [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.fpgonline.co.uk\/index.php\/future-wealth\/\" \/>\n<meta property=\"og:site_name\" content=\"The Financial Planning Group\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-05T12:57:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-19T11:05:57+00:00\" \/>\n<meta name=\"author\" content=\"fpgonline\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"fpgonline\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.fpgonline.co.uk\\\/index.php\\\/future-wealth\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.fpgonline.co.uk\\\/index.php\\\/future-wealth\\\/\"},\"author\":{\"name\":\"fpgonline\",\"@id\":\"https:\\\/\\\/www.fpgonline.co.uk\\\/#\\\/schema\\\/person\\\/ca7cc77e66f7465100af51d9355d408c\"},\"headline\":\"Parents Are The Key To Children\u2019s Future Wealth \u2013 Unless They Plan Now\",\"datePublished\":\"2017-01-05T12:57:17+00:00\",\"dateModified\":\"2023-09-19T11:05:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.fpgonline.co.uk\\\/index.php\\\/future-wealth\\\/\"},\"wordCount\":343,\"commentCount\":0,\"articleSection\":[\"Latest News &amp; 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