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Young Can’t Count On Inheritance

Younger Canadians feel that they are not getting ahead financially and they shouldn't count on an inheritance, say the Manulife Financial's ‘Investor Sentiment Index.’ Almost half (46%) of Canadians aged 25 to 34 say they are worse off financially than they were two years ago while 40% of those aged 35 to 44 say they are worse off financially. It also shows that it isn't likely that younger Canadians will receive much help in the form of future inheritance. Nearly half of Canadians (43%) report that they haven't given any thought to how much cash or assets they'll leave to their heirs. As many as 13% say they plan to leave nothing, while more than one in four (29%) say they will leave less than $100,000. Only 2% of Canadians report that they will leave an inheritance of $1 million or more. It also shows that despite robust capital markets at pre-financial crisis levels, Canadians' overall investor sentiment remains mired in the recession.

Courtesy of Benefits and Pensions Monitor website News Alerts

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