Perpetual Dependents?
There’s a strong possibility that a lot of retirees will die of starvation, and/or be homeless within the next 10 years. At the rate their grown-up children are sapping their intended retirement funds through loans, a lot of aging bag ladies will be visible in the streets in the near future. This phenomenon currently has a collective value of 67 billion pounds, roughly averaging at 12,610 pounds per grown up child - and growing even larger. Debt payments account for 42% of these loans and 29% for homeowner loans or property acquisition. These adults enjoy a lifestyle beyond their means, and they apparently have no compunction about driving their tired parents to mendicancy to support their whims. After caring for them through adulthood in back breaking grinds at work, they would be denied a well deserved restful retirement because of the immaturity and irresponsible nature of their children. And the loans may not even have a repayment clause, or at least a binding document. I...