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They can retire on your inheritance gift; at least the next generation, no hope after that
Topic Started: Dec 14 2013, 12:01 AM (471 Views)
Banandangees
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Averaage American Inheritance: $177,000

"The United States is lagging behind other parts of the world when it comes to leaving inheritances for future generations.

American retirees expect to leave an average inheritance of almost $177,000 to their heirs, the sixth highest of any country, according to an HSBC survey of more than 16,000 people in 15 countries.

Australian retirees are the most generous, with inheritances averaging more than $500,000, thanks in part to the country's high real estate prices. Singapore was second at nearly $371,000, and the United Kingdom, France and Taiwan followed.
(I don't know where Canada stacks up, but you'da thought they'd be 1st or 2nd with their wealth)

"
About two-thirds of U.S. respondents said the inheritances they receive will at least partly fund their retirement, and 10% said they will rely on their inheritance completely to retire.(if the kids use up inheritance on their retirement, who's going to fund their kids retirement?.... sounds like a left wing thing.. spend now, let them worry later)


But now:

Keeping your kids from blowing their inheritance

" 35% of people are crafting their estate plans to avoid mismanagement of money by their heirs, a recent survey from WealthCounsel found. Luckily, there's a lot you can do now to make sure your children won't have you rolling in your grave.
"
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campingken
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A better plan is to raise your children to become adults who can make their own decisions and don't need guidance for their entire lives.
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Berton
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There are many liberals who believe that children should never be allowed to have an inheritance. That every thing a person had gathered together during his or her lifetime should revert to the State when they die.

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colo_crawdad
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Berton
Dec 14 2013, 02:22 AM
There are many liberals who believe that children should never be allowed to have an inheritance. That every thing a person had gathered together during his or her lifetime should revert to the State when they die.

Who are some of those "many liberals?"
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campingken
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Berton,

What's the difference between a child inheriting money that he didn't earn and someone on welfare (besides the fact that one of them was lucky enough to be born into money)?
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Sea Dog
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Berton
Dec 14 2013, 02:22 AM
There are many liberals who believe that children should never be allowed to have an inheritance. That every thing a person had gathered together during his or her lifetime should revert to the State when they die.

Trying to top your record of stupid comments?
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Sea Dog
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Canadian net worth tops 400,000.

Not bad for a socialist country filled with oppressed workers!

http://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/canadians-getting-richer-average-net-worth-tops-400000/article13415380/
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campingken
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Unless it's a family business or Farm I'm all for large inheritance taxes on estates over a million. We have enough worthless Paris Hilton types. If you didn't earn it you don't deserve it.
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Banandangees
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Sea Dog
Dec 14 2013, 03:13 AM

That's commendable, so what are they going to do with it, spend it, give it to charity or pass it on to their heirs (because they aren't listed in the top six for passing it on.

Socialist country.... I don't think so. You've had a fiscal conservative in office for a decade. What you need is an Obama to make you a "socialist" country.

$400,000 average net worth. No big deal. I've seen the price of some of your homes in Ontario and they are quite inflated, depending on location.

The average price for a home in Canada is $391,822.
http://www.cbc.ca/news2/interactives/housing-canada/

In US it's $152,000.
http://www.statisticbrain.com/home-sales-average-price/

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Sea Dog
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In both America and Canada,
the average prices of homes means nothing.
There is such a disparity in prices between large cities
and small town and rural areas that averages do not reflect any true picture.
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