This new reality must certainly be part of the decision to take money as Pension Income Withdrawal, as is the desire to assist the next generation in getting a foot on the property ladder.
Unfortunately a lack of professional advice is leading to some potentially disastrous outcomes. Professional advice costs but making the wrong decision can be much worse.
To avoid a bleak future it is imperative to have a clear picture of how long your assets are likely to last. Equally important to ask some searching questions, such as :
If I provide funding for my children/grandchildren do I know who could potentially benefit? Could a currently happy relationship end in a divorce?
Could the money be taken away due to bankruptcy?
Will my children be prepared to pay for my care in return for my financial help?
Is there a different way to help them now and still keep a sustainable income for me?
The future is uncertain but using intelligent assumptions and letting the head rule the heart can lead to better outcomes, more certainty and a secure future for you.