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 s

HuffPost UK

Raw Story
CBS News