A report released on 5 June by NATSEM and sponsored by AMP is a wake up call to Baby Boomers thinking of relying on inheritance from parents to save them from inadequate retirement savings.
The report concludes that many bequests will skip generations due long life expectancies and variable survival patterns within family generations. Also reduced bequest ethics mean cascading wealth from a most affluent aged generation over the next 10 to 20 years will be very haphazard in where it falls.
Posted Monday, 16 June 2003
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