High living costs force seniors to rethink retiring and their estate
A new report from Australian Seniors, titled Inheritance & Retirement Report 2024, reveals that nearly a third of Aussies over 50 have decided to postpone their retirement due to the rising cost of living, facing the compounding pressures of funding their own retirement while also having enough left over to leave to their kids.This balancing act has led to some interesting developments in the way families are distributing inheritances. The report found that a whopping 69% of older Austrlaians have already given or plan to give their inheritance to their children or grandchildren before they themselves pass away.
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