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  • Writer's pictureJoe Woodhouse

Don't Count on The Dead

Remember when you were young and your nan and grandad would pop a couple of quid in your hand and tell you to go and buy some sweets? 


Well a recent study shows that 1 in 5 people are expecting an awful lot more than that in the form of inheritance.


And two thirds of those people admit that they NEED it to retire.  


But here’s the stat that will really scare you:  


The average inheritance passed down over the last two years was just £30,000, and that’s not what people inherited, that’s the pot. So if you’ve got 2 siblings, that’s being split 3 ways, and as I’m sure every person reading this will know, that’s not going to last you very long.  


Your retirement shouldn’t be depending on external factors you can’t control, let alone relying on family to die. I for one wouldn’t want to be sat by the phone waiting for the call that nan’s popped it so I can call my boss and tell him to shove it! 


Don’t rely on money to come from an unexpected source, there’s too many variables, and you’re not a kid anymore, take some responsibility:

  • You don’t know when you’ll receive it 

  • You don’t know how much you’ll get 

  • You might not get anything, what if your parents get taken into a home, do you know how much long term care costs? Your inheritance will get swallowed up pretty quickly 

  • Or Mum and Dad might spend it all on themselves… cruises do look a LOT of fun 

OK, so what can you do? Well, really there’s only one thing you should do: don’t include it in your plans.  


As we know, the earlier you start planning your retirement the better. Putting money away every month automatically before ANYTHING is so important, especially if you’re an expat, because, chances are, your employers aren't paying into any sort of pension for you - why do you think you get paid more an expat? Time to grow up.  


If you get a bonus 30 or £50,000 fantastic! And if by the time it comes in you are well on your way to hitting your retirement goals, then you’re going to have an even BETTER retirement than you planned.  


Don't count on the dead, count on yourself.


Thanks for reading,




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