Woman looking concerned

Over-50s own 78% of the UK’s property wealth, and the Financial Times reports that one in five “Boomers” are millionaires (largely due to soaring property prices).

But, like all modern wealth, this is a story of deep inequality. The Centre For Ageing Better says that roughly 18% of older people live in relative poverty; one in six over-55s have zero retirement savings, and 9-12% of rough sleepers are believed to be over 55.

Which means that renting long past retirement age, never mind costly nursing home care, is out of the question for many.

That might lead some, like the mother of Redditor u/Swimsmoke, to assume their children will help with their housing, care, and costs in their old age.

But, like the 6.6 million UK adults who say they wouldn’t know where to........

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