One in five (20%) baby boomers have described leaving an inheritance as one of their top five goals for retirement, Just Group has revealed.
The firm’s latest GenVoices report found that 18% of surveyed boomers also aimed to help their children and grandchildren with their finances, which is known as a living inheritance.
The report revealed the top retirement objectives for this age group were to spend more time with family and friends (46%), travel abroad (37%) and in the UK (36%), and pursue new hobbies and interests (34%).
Just Group revealed that 3% of current homeowners in this age range envisaged buying a different main home, while 20% said they wanted to renovate their current home.
Of the surveyed baby boomers that are currently renting, just 4% wanted to buy a home.
Group communications director at Just Group, Stephen Lowe, said: "Inheritance and estate taxes are hot topics, but the research suggests that leaving money is not high on the retirement agenda of most baby boomers.
"Overall, the priority of most seems to be to kick back and relax by spending time with friends and family or pursuing travel and hobbies – over other options such as working part-time or volunteering, setting up their own business or studying."
Latest News
-
Regulators urged to improve policy communications to advice sector
-
One in five people giving away money to beat IHT, study finds
-
The Mortgage Mum and LIBF launch new scholarship scheme
-
Retail investors withdraw £1.8bn from funds in August
-
Annual house price growth up to 2.2% in September – Nationwide
-
Hargreaves Lansdown hits record AUA in FY25
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories