PenPenWrites

This recession is hard on everyone–more so on those it affects directly: those with the lost job or the diminished 401k. But that hasn't stopped many of us from using what we've got to help those we love. A  study out of Britain may reflect what's happening here as well.

Here are the basics of the report:

13 percent of British grandparents are filling up savings accounts with money for their grandchildren to inherit:. A
fifth of this group are saving upwards of £400 every year, which will turn into a £10,000 nest egg when the children turn 18. Additionally,
a tenth of these over-50s are putting money into savings
accounts to help their adult children through the recession.

The
study is in sharp contrast to a report released earlier that revealed that six in 10 over-50s are
concerned that their pensions and savings will be insufficient to look
after them in retirement.

Meanwhile, back here in the U.S.A., a friend tells me what she's doing to assure that her 33-year-old daughter–unmarried and still struggling with job losses in this economy–will have savings in the bank on her far-in-the-future retirement day. She's has set up a Roth IRA in her daughter's name and is funding it for her–for now. More on this interesting idea in a future post.