Retirees Spend Children's Inheritance on Travel

Wealthy retirees are increasingly spending their savings on travel, leaving nothing for millennials and Gen Z. This new financial trend has been dubbed Ski-ing — spending the kids’ inheritance.

Statistics reveal the scale of the phenomenon

In the UK, 82% of people over 65 went on vacation in the past year. One in seven parents plans to spend money on their own lives rather than saving for heirs.

The situation is similar in the US: only about 22% of the older generation expect to leave an inheritance to their children.