I see many threads on Mumsnet about people who are lucky enough to have wealthy parents who help them out financially or who have been given a step up onto the housing ladder by their parents. There are also multiple threads about inheritance expectations. And of course there are always those who know that their parents are never likely to help them out - whether that's because they can't or won't. But a conversation the other day got me wondering how many people are actually supporting their parents financially?
I have a close friend who took out a mortgage to help her ageing parents to move into a more suitable property so that they could retain their independence for longer. Another friend lost a parent suddenly and unexpectectly which left the surviving parent temporarily in a difficult financial position. My friend has helped out financially and although it now doesn't look as though she will need to do so on a day to day basis, I have no doubts that she will need to assist with regards to unexpected large bills/repairs in the future. When my own DF died suddenly I did not know what my DM's financial situation would be and until everything became clearer found myself planning how I/we would help her out financially if needed. Conversely, I have a friend whose parents have made poor financial decisions, got themselves into debt, and will do very little to sort out their problems so may ultimately lose their home. In this case the friend restricts support to advice and guidance.
None of my friends are wealthy but all have decent jobs and a comfortable lifestyle having worked hard for what they have. But if amongst my small social circle I know of people having to assist their parents financially, I wonder how widespread this is as it often seems as if the money is always passing from the older generation down - which is clearly not the case.