Average 50-something 'OWES more in debts than they have in savings'

Excluding home mortgage debt, the typical individual aged between 50 and 59 owes ₤ 4,641 from obtaining such as credit cards loans and overdrafts, according to the research from Nationwide Financial Planning.This outweighs

the typical quantity of money they have actually put away in savings accounts, at ₤ 4,511.

A 5th (20 per cent) of 50-somethings surveyed have no “rainy day” savings at all.Many people in

this age were discovered to be supporting 2 generations. Almost 3 in 10 (27 per cent) fret about having the ability to help their kids financially.Meanwhile, around a quarter(

24 per cent) of 50-somethings make certain their own moms and dads get routine check outs, while 15 per cent devote to doing their shopping and owning them to visits. A quarter (25 per cent )of 50-somethings said they see

their parents more now than they did 10 years ago.Larry Banda, Nationwide’s director of monetary preparation, said:” Striking the half century in

terms of years truly is middle of the roadway.” Often we are squeezed from both sides-supporting both our grown-up kids but also our parents as they get

older. “Some 2,000 individuals aged 50 to 59 took part in the study. Daily Express:: Personal Financing Feed

Show Buttons
Hide Buttons
error: Content is protected !!