Traditional inheritance may be dying out, with a rise in 'giving while living', research has suggested.
Many retirees have started redistributing their savings during their lifetime as a 'living inheritance', a report by HSBC found.
The findings of a survey of over 16,000 people in 15 countries worldwide, showed that while 74% of working age people expected to leave an inheritance to their children, only 29% were confident in doing so.
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However, just one in three working age people have received an inheritance, rising to only 36% among 45-65 year olds, suggesting a mismatch between hopes and reality.
The Future of Retirement Choices for later life report, revealed the existence of a 'living inheritance' whereby three in five retirees (60%) have been providing regular financial support to their family and friends.
It found that wealth is being passed down the generations, with nearly a quarter (22%) of retirees regularly giving to grown-up children, and over one in 10 (12%) doing the same for their grandchildren.
Charlie Nunn, group head of wealth management, HSBC, said: "The 'living inheritance' adds another dimension to the already complex financial pressures faced by retirees.
"A desire to support loved ones during your lifetime is of course understandable, but for many people this comes at a cost both to their retirement dreams and to their ability to leave a legacy.
"At the same time, today's working age people are putting their future finances at risk by relying on a living inheritance from retired loved ones, as this may not always be forthcoming."
The 'living inheritance' is a cause for concern for more than two in five (41%) retirees who are worried about not being able to support family or friends financially, or of being reliant on family or friends for financial support (40%).
Furthermore, the research found that 73% have been unable to realise at least one of their hopes and dreams since retiring, a potential consequence of 'giving while living'.