Published On: Mon, Sep 6th, 2021

Inheritance warning: The mistake that will ruin your retirement | Personal Finance | Finance

No one can accurately predict how long their loved ones will live, unless they have serious health issues or are given a terminal diagnosis, making it even less wise to rely on inheritance for retirement costs.

Another key reason younger generations shouldn’t rely on their elders for a bolstered sum is due to the rising cost of care.

Later in life care costs have skyrocketed, with the cost of nursing care increasing by 15 percent over the last five years.

Extensive care costs can run up to £100,000 per year, potentially wiping any inheritance whatsoever from the family slate.

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