{"id":7249,"date":"2025-10-14T15:01:28","date_gmt":"2025-10-14T14:01:28","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/quilter\/?p=7249"},"modified":"2025-10-14T15:02:06","modified_gmt":"2025-10-14T14:02:06","slug":"supporting-generations-helping-family-without-compromising-your-financial-future","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/quilter\/2025\/10\/14\/supporting-generations-helping-family-without-compromising-your-financial-future\/","title":{"rendered":"Supporting generations \u2013 helping family without compromising your financial future\u00a0"},"content":{"rendered":"
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One in eight high earners are financially supporting both their parents and children <\/td>Some HNWIs have had to adjust their financial plans to accommodate family support <\/td>Supporting loved ones doesn\u2019t have to mean sacrificing your own financial future <\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n\n
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Many are familiar with the \u2018Bank of Mum and Dad\u2019 (BoMaD) as a vital source of support for younger homebuyers, but a new trend is emerging. Recent research<\/strong>1<\/sup><\/strong> shows that one in eight high earners are also stepping into the role of the \u2018Bank of Son and Daughter\u2019 (BoSaD), helping their parents manage the rising cost of living and other financial pressures, as well as supporting their own children.<\/strong> <\/p>\n<\/div>\n\n

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The squeeze in the middle<\/strong> <\/h2>\n<\/div>\n\n
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The study highlights a growing shift in how wealth is shared across generations. While 73% of high-net-worth individuals (HNWIs) provide financial support to adult children, 68% also assist older family members. For 12%, that means simultaneously supporting both parents and children \u2013 a financial double duty. <\/p>\n<\/div>\n\n

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The average financial gift from these generous supporters sits at around \u00a37,500 annually, but while the intention is admirable, the impact can be significant. Over one in seven HNWIs have had to adjust their financial plans to accommodate family support. Some have even drawn from their pension savings, sold investments, or reduced their lifestyle spending to help those in need. <\/p>\n<\/div>\n\n

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Finding financial balance<\/strong> <\/h2>\n<\/div>\n\n
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Supporting loved ones doesn\u2019t have to mean sacrificing your own financial future. Striking the right balance is key. With the right financial advice, you can provide meaningful help to family while protecting your own long-term goals. To maximise your support for loves ones, while ensuring your own continued financial freedom, get in touch; we can guide you through your options. <\/p>\n<\/div>\n\n

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1<\/sup>Saltus Wealth Index, 2025 <\/p>\n<\/div>\n\n

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It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored advice and is for guidance only. Some rules may vary in different parts of the UK.<\/strong> <\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

One in eight high earners are financially supporting both their parents and children  Some HNWIs have had to adjust their financial plans to accommodate family support  Supporting loved ones doesn\u2019t have to mean sacrificing your own financial future  Many are familiar with the \u2018Bank of Mum and Dad\u2019 (BoMaD) as a vital source of support […]<\/p>\n","protected":false},"author":4,"featured_media":7252,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,77],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/7249"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/comments?post=7249"}],"version-history":[{"count":7,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/7249\/revisions"}],"predecessor-version":[{"id":7257,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/7249\/revisions\/7257"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media\/7252"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media?parent=7249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/categories?post=7249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/tags?post=7249"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/hd_content_source?post=7249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}