'One in four' young people worry about supporting ageing parents

Earlier this month, Legal & General released its 'Bank of Mum and Dad' research predicting that family and friends will lend £6.3bn to loved ones to help them onto the housing ladder this year. New research from Smarterly has turned this on its head and explored the financial pressure on the younger generation to support their parents in later life, introducing the idea of ‘The Bank of Son or Daughter'. "The new reality for younger people - rocketing housing prices, low pay and a culture that normalises getting by on credit - is eroding financial security for younger and older alike" ...