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Your money or your wife

An international study has revealed that 49% of UK home owners are more worried about losing their home than losing their husband or wife.

Just 36% are worried about outliving their spouses and 30% are worried about dying.

The Future of Retirement study was conducted by HSBC. It finds people are increasingly expecting to live with their children when they get old.

Almost one in 10 of UK parents now expect to move in with their children in later life.

That figure rises to 15% among 30 to 39 year olds and for students it increases to almost one in five.

But nationally, we are still among the most independent people in the world in our old age.

In France, 14% expect their family to bear the cost of their retirement while in India 64% expect their family will shoulder most of the costs of retirement and 51% expect to move in with their children.

Steve Troop, group head of retirement businesses at HSBC, says: “Unless people think about their long- term needs, be they work, leisure or housing related, we will see a vicious circle of generations financially dependent onfamily membersduring retirement.”


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