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Under 34s stand to inherit only half as much as their parents, according to a report by HSBC which points to a growing demand for advice on how to stop wealth being eroded before it can be passed on.

A survey of 2000 adults in HSBC's Age of Inheritance found £1.1trn may be left to beneficiaries by 2047, compared to £194bn by 2015.

However by 2062 this will have fallen to £552bn, as inheritances are eroded by the rising cost of living and life expectancy.

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Increased longevity means the baby-boom generation are retaining their wealth, according to the report, and there are far lower expectations of how much the recipients of this inheritance will pass on to future generations.

Those in the 45-54 age group expect to inherit an average of £108,384 - and nearly half surveyed had already done so. But people aged 16-24 only expect to inherit an average of £45,662.

Read more: http://www.ifaonline.co.uk/ifaonline/news/2112447/34s-inherit-half-parents#ixzz1ZQfeOqUB'>http://www.ifaonline.co.uk/ifaonline/news/2112447/34s-inherit-half-parents#ixzz1ZQfeOqUB

IFA Online - News, blogs and analysis for IFAs. Visit the website now.

Linky:

http://www.ifaonline.co.uk/ifaonline/news/2112447/34s-inherit-half-parents

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i have a few firends that talk about their Grandparents, Uncles, Aunties and thier parents as just a cash cow waiting to be exploited.

one person has spent their EXPECTED inheritance from their Nan dieing, and she is still alive and kicking. they said that if they dont get the full amount they wil lbe stuffed and possibly need to sell the house

it discusts me greatly

Edited by Monkey

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one person has spent their EXPECTED inheritance from their Nan dieing, and she is still alive and kicking. they said that if they dont get the full amount they wil lbe stuffed and possibly need to sell the house

I hope their Nan blows it all on round the world holidays while she still can.

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i have a few firends that talk about their Grandparents, Uncles, Aunties and thier parents as just a cash cow waiting to be exploited.

one person has spent their EXPECTED inheritance from their Nan dieing, and she is still alive and kicking. they said that if they dont get the full amount they wil lbe stuffed and possibly need to sell the house

it discusts me greatly

Don't tell them but she's being doing equity release with that nice man who knocked on her door.

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Don't tell them but she's being doing equity release with that nice man who knocked on her door.

Just happened to friends of mine who've sold their mum's house to pay care home fees. Didn't know Mum had taken out another £60K over the years...

Note to those expecting an inheritance: residential care home fees are £600 a week rising to whatever...

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My nan won £10,000 on online bingo last year and when we went round to congratulate her she then admitted that win had clawed back 50% of her losses so far :lol:

That's what she told you. ;)

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I like the idea of leaving no money when I die. Leaving cash unspent seems like wasted effort, I see that as meaning I could have retired earlier! Sorry kids!

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i have a few firends that talk about their Grandparents, Uncles, Aunties and thier parents as just a cash cow waiting to be exploited.

I know a few grandparents,uncles,aunties etc that are using the next generation as a cash cow via the btl mechanism, preventing them from purchasing property of their own and forcing them to hand over half of their take home every month in exchange for some hovel they never maintain. It disgusts me greatly.

The inheritance is part repayment of what the next generation has already been forced to hand over.

Edited by cybernoid

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i have a few firends that talk about their Grandparents, Uncles, Aunties and thier parents as just a cash cow waiting to be exploited.

one person has spent their EXPECTED inheritance from their Nan dieing, and she is still alive and kicking. they said that if they dont get the full amount they wil lbe stuffed and possibly need to sell the house

it discusts me greatly

I agree. It is disgusting behaviour. I wonder if they will be happy or not if their nan lives to be a hundred years old.

They should be grateful to have loving relatives that are STILL ALIVE, and not salivating over the distribution of assets after death.

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We enter with naught, we leave with naught........I would say most people earn their own way in life, most do not get given or are left money, they make what they have themselves.....too many today are too spoilt...anyway you appreciate it and use it more wisely when you have worked for it....free money can have little value, it is far easily spent and wasted. ;)

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I'll be really annoyed if the folks leave me anything. Worked so hard all their lives for feck all, I hope they at least try and enjoy something from it before they drop.

That's the spirit.

I hope my parents enjoy it. They are boomers and I have worked all their days. People seem to think they had it easy, but the seventies and eighties were tough. Unless they're monsters, hoping for cash of your dead family is just sick.

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Just happened to friends of mine who've sold their mum's house to pay care home fees. Didn't know Mum had taken out another £60K over the years...

Note to those expecting an inheritance: residential care home fees are £600 a week rising to whatever...

.....however I greatly resent these venture capitalist vulture scum getting a penny.

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There was a brief bit in 5live yesterday, Peter Allen, fat Declan and (I think) Doug Richards.

Peter Allen came straight out and said there'll be 2 types of people in the future, those who will be left/given money so they can afford to buy a house and those who won't. They were rather matter of fact about it as well.

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Under 34s stand to inherit only half as much as their parents, according to a report by HSBC which points to a growing demand for advice on how to stop wealth being eroded before it can be passed on.

A survey of 2000 adults in HSBC's Age of Inheritance found £1.1trn may be left to beneficiaries by 2047, compared to £194bn by 2015.

However by 2062 this will have fallen to £552bn, as inheritances are eroded by the rising cost of living and life expectancy.

Interesting arithmetic there.

Peak inheritance in 2047 to be vastly higher than today.

Who'll be inheriting the most in 2047:

  • Boomers, whose parents will be aged about 120, or

  • Today's 30-year-olds, whose parents will be in about their 90s.

The logic of those dates is the reverse of the conclusion!

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Interesting arithmetic there.

Peak inheritance in 2047 to be vastly higher than today.

Who'll be inheriting the most in 2047:

  • Boomers, whose parents will be aged about 120, or
  • Today's 30-year-olds, whose parents will be in about their 90s.

The logic of those dates is the reverse of the conclusion!

there is a trend for old retirees to hold on to their old big family house until the bitter end, which i think is somewhat new in the last decade or so, based on expectation of investment vaklue of said house

the maintenance costs of this are very large

and there has also been a tendency to splash large amounts of money on their adult children and grandchildren specifically for weddings and property speculation, firstly they didn't really have the spare cash, they just felt rich due to the high value of their house at the time, and secondly the money was given away frivolously and spent in ways that money was not spent in the past, and finally, having made themselves poorer for little good reason, they are going to have to maintain a large house (as well as opportunity cost) for the final decades of their life for no reason other than pride in living in a big house bigger than their kids have

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That's the spirit.

I hope my parents enjoy it. They are boomers and I have worked all their days. People seem to think they had it easy, but the seventies and eighties were tough. Unless they're monsters, hoping for cash of your dead family is just sick.

that's pretty reasonable, they should enjoy it, I think too much is used to gloat without actually ewnjoying it tho, look at the value of my house that you can't afford etc

the other thing that is difficult is within families where family cash is used to help some offspring put down largh deposits on houses (already lost in many cases now owing to house price crash) and the sensible ones who didn't want to buy at stupid prices are ridiculed for not being savvy etc

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there is a trend for old retirees to hold on to their old big family house until the bitter end, which i think is somewhat new in the last decade or so, based on expectation of investment vaklue of said house

The rich have done that for generations. When did Buckingham Palace pass out of the family?

The difference now is that there are far more rich people. But still, most old folks I know have downsized. In fact, not just most, but all those whose homes I'm familiar with.

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The difference now is that there are far more rich people. But still, most old folks I know have downsized. In fact, not just most, but all those whose homes I'm familiar with.

Strike that: I do know one pensioner who still lives in the old family house. He has an army Major's pension so he can afford it. But since being widowed a few months ago, he's now looking to downsize too.

Edited by porca misèria

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The rich have done that for generations. When did Buckingham Palace pass out of the family?

The difference now is that there are far more rich people. But still, most old folks I know have downsized. In fact, not just most, but all those whose homes I'm familiar with.

that's interesting; I have the opposite experience; you in the south?

(I think in the north the last crash did not hit that hard simply because in most places neither did the boom; hence oldies see the long term house price trend in their locale as one long upward ramp)

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there is a trend for old retirees to hold on to their old big family house until the bitter end, which i think is somewhat new in the last decade or so, based on expectation of investment vaklue of said house

the maintenance costs of this are very large

and there has also been a tendency to splash large amounts of money on their adult children and grandchildren specifically for weddings and property speculation, firstly they didn't really have the spare cash, they just felt rich due to the high value of their house at the time, and secondly the money was given away frivolously and spent in ways that money was not spent in the past, and finally, having made themselves poorer for little good reason, they are going to have to maintain a large house (as well as opportunity cost) for the final decades of their life for no reason other than pride in living in a big house bigger than their kids have

Do you actually know anyone who's hung on to a family house for this reason? Must be weird, sick sort of parents.

Usual reasons for hanging on to a family house in my exp,. are

a] moving is just too much hassle and upheaval, they'd have to get rid of a mass of stuff and can't face it,

b] it's still a family home where children/grandchildren can all gather for certain occasions - maybe nobody else has enough room.

often both.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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