financial

Older people in the US are increasingly taking more mortgage debt into retirement than ever before, but applying for a new mortgage can prove troublesome for seniors. This is also the case in the United Kingdom, where new rules that were introduced earlier in the year have meant a greater struggle to gain finance for home buying in later life.

In the next 40 years, more than 40 trillion dollars of intergenerational wealth transfer will occur in the United States alone in the form of inheritances and estates as millions of Baby Boomers and Generation X’ers retire and pass money on to their children.