About half of Canadians do not expect to receive an inheritance that will have a significant impact on their future, according to a survey conducted by Leger Research for Mississauga, Ont.-based Edward Jones.
According to the survey, Canadians 18-54 are the most optimistic when it comes to expecting a financial windfall from a family member. Interestingly, a person’s income doesn’t appear to make a major difference when it comes to inheritance expectations: half of those whose income is less than $40,000 say they expect an inheritance, while a similar number (39 per cent) of those earning a salary of over $100,000 say the same.
“It's not always easy to talk about, but we encourage Canadians to start the conversation about inheritance early so that they can plan accordingly," says Patrick French, principal of solutions tools and consulting with Edward Jones. "Working with a team of experts can provide important guidance to both those planning to leave an inheritance and those who are expecting to receive one, as well as remove some of the discomfort that can accompany such discussions.”
Whether you are planning an inheritance or planning to get along without one, we can help. Call Four Points Financial Solutions at 1-866-235-0004 to speak to an advisor today.