Tax, investments and pension rules can change over time so the information below may not be current. This article was correct at the time of publishing.

How family wealth is changing and how to help stretch your retirement income to future generations

Historically only one generation is in active retirement at one time. However, by 2039, 1.2 million families are expected to contain more than one retired generation which is a significant increase from 624,000 families in 20201.

Intergenerational Wealth Management

Intergenerational wealth management is how families use their collective wealth to support each other. Increasing life expectancy means that this is becoming increasingly important and the increasing possibility of having more than one generation in active retirement means families may need to reassess how they plan for later life.

24% of future retirees expect to provide financial support to someone other than their partner once they retire1; for example, a child, grandchildren or former partner. Financial support could include covering living costs, education fees or childcare. At Four Wealth Management, we encourage individuals to include their families in talks about their finances so that younger generations are aware if there are any plans to pass wealth onto them.

How to build wealth for your family

Building significant funds for your own future while supporting other generations can seem daunting. Taking financial advice can help you to plan for the future and to invest your savings or income tax-efficiently.

Book a no-obligation meeting with a financial adviser to discuss your family’s needs

79% of people who receive face-to-face financial advice believe that they have sufficient funds to fulfil their retirement plans. This is significantly higher than 35% who don’t receive advice who believe they can fund their retirement plans1.

This shift in family structures will have a significant impact on retirement planning in the future. People are also expecting to have less wealth to pass onto their loved ones due to the impact of this along with living longer themselves and needing more money in their lifetime.

Start planning to leave a legacy today

Planning at an early stage will give more opportunity to build wealth over time and leave behind more to your loved ones.

To book a no-obligation meeting with a financial adviser to discuss leaving a legacy, phone us on 0117 973 0500 or leave us a message.

The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested. An investment in equities does not provide the security of capital associated with a deposit account with a bank or building society.


1 Estimating the number of families with multiple retired generations relies on looking at the age of children of the eldest age groups and projecting how changing demographics will impact these figures. We know approximately how many older age groups have a child aged 65 and above currently, and we have applied those percentages to the ONS projections of increased numbers of adults aged 80-89 and 90+, to ascertain future numbers of families with more than one generation in retirement.

Enquire Now

If you have any queries or would like to arrange a face to face meeting with an adviser for a no obligation review of your personal finances, simply book a call back using the form below. Alternatively, you can call us on 0117 973 0500.

The Partner together with St. James's Place Wealth Management plc are the data controllers of any personal data you provide to us. For further information on our uses of your personal data, please see the Partner's Privacy Policy or the St. James's Place Privacy Policy.

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How family wealth is changing and how to help stretch your retirement income to future generations
FourWealth Management