Why should we baby boomers be duty bound to bail out the next generation?

I find myself listening increasingly to how a friend or relative is going to transfer their wealth to their children, writes Chris Blackhurst, and it makes me uneasy for those who don’t have a nest egg

The children of the UK’s baby boomer generation can expect to inherit an estimated £1.2 trillion (PA Archive)

My friend shrugged. He and his wife were selling their apartment in London. They had a country home and they’d planned to split their time between the two. Now, though, they were drawn to moving away from the capital completely.

It would be a wrench, he said. But there was a bright side. They would give some of the proceeds from the flat to their children, so they could buy their own places and join the property ladder.

It must be my age, but I find myself listening increasingly to how a friend or relative is going to assist their children, how they’re going to transfer their wealth.