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Over 50s face expensive times too. The popular view is that the over 50s have had all the breaks: free university, good company pensions and a boom in house prices. If you are in your 20s and 30s struggling to bring up kids and juggle the mortgage it can look as if your older family members lead the proverbial life of reilly.
But increasingly it is becoming apparent that the over 50s are faced with a number of rather unique financial challenges all of their own. The recession has eaten into their savings considerably; low interest rates are
great if you have a mortgage, not so great if you are looking to get a return on your savings.
Photo Credit : PedroSimoes7
On top of this, many people in their 50s are supporting their adult children; either by helping them out with housing deposits and childcare; or often having them live rent free with them at home. awa certainly A rise in
university costs are also taking a considerable sum of money out of many over 50s
To make matters even more difficult for many people in their 50s, they also have to look after their elderly parents. This can involve having to come up with ways for improving home life; such as the installation of Stannah
stairlift for increased mobility, as well as other adjustments to the home.
So while many over 50s may be at the peak of their earning potential: they also have considerable costs and a large number of people dependent on their income to get by. So the next time you see a silver haired
couple pass you by at the bus stop in their convertible, remember that theyprobably have plenty of money worries like their rest of us.