Today we will be looking at the financial responsibilities of middle aged people as the cost of living crisis puts a significant strain on people.

According to new research, the financial responsibility of people in their forties and fifties (40 to 60 years old) could skyrocket in 2022[1]. Midlifers (17%) who provide financial support to adult loved ones may be impacted twice by the cost of living crisis, as their own household bills and those of the adult loved ones they support rise.

Please contact us to discuss your situation or to learn more. Visit us again tomorrow as we explore how people in this age group usually provide the most support to other family members, and are thus impacted twice.

Source data:
[1] Opinium survey of 4,009 UK adults aged between 40 and 60 years old in the UK was conducted between 28 December and 6 January 2021.
[2] Year of the Squeeze, Resolution Foundation.
[3] Average essential outgoings for midlifers were £12,457; an increase of £1,200 as predicted by the Resolution Foundation could see them increase by 10% to £13,657.