A refreshing change brought on by a stagnant real estate market is that you no longer hear people wealth-bragging about how their houses are soaring in value.<\/p>\n
If you miss the chatter, just hang on. Inheritances are set to take over as the lead narrative on instant wealth creation. The amount of money to be passed down by boomers to their millennial and Gen Z children was estimated at $1-trillion by The Chartered Professional Accountants of Canada.<\/p>\n
Inheritances are like houses and pensions \u2013 amazing if you have one, and discouraging if you don\u2019t. But with vast amounts of money changing hands, inheritances demand attention. Help us dig into this topic by sharing your stories about money, property or other items that you received or expect to get from parents and others. What are you doing with your inheritance, and what kind of difference will it make in your life? Send your thoughts to April Fong, The Globe and Mail\u2019s deputy editor, personal finance, at afong@globeandmail.com<\/a>.<\/p>\n In a Carrick on Money reader survey<\/a>, 81 per cent of the participants said they anticipated an inheritance of money from parents. Most participants said they expected a six-figure amount, and almost four in 10 said inheritances sometimes get mentioned in their circle of family and acquaintances.<\/p>\n Boomers have the wealth to pass down as a result of their success in building wealth via hard work and fortunate timing in the housing market. But there are some reasons to question exactly how much money boomers will end up passing along, including the fact that people are living longer but not necessarily healthier.<\/p>\n Like the concept of retirement, inheritances are evolving. Many boomer parents are giving their kids money right now rather than waiting until after they die. Money for home down payments is included here, but boomers are also helping with regular household expenses faced by their adult children \u2013 and grandkids as well.<\/p>\n We look forward to hearing your inheritance stories. If you want to vent about living in an inheritance world without rich parents, that\u2019s cool, too.<\/p>\n Subscribe to Carrick on Money<\/p>\n Are you reading this newsletter on the web or did someone forward the e-mail version to you? If so, you can sign up for Carrick on Money here<\/a>.<\/p>\n Callout<\/p>\n Are you someone who is struggling to sell your house and downsize? How is that impacting your retirement plans? E-mail retirement reporter Meera Raman<\/a> with your story.<\/p>\n Rob\u2019s personal finance reading list<\/p>\n Are realtors worth the money?<\/a>Discount and sell-it-yourself realty options haven\u2019t really clicked in Canada, yet this Reddit discussion documents the skepticism some people feel about paying tens of thousands in real estate commissions when selling. Here\u2019s a Globe and Mail story<\/a> on a company called CommFree that offers packages from $497 to $1,197 to help people sell their own home. Now, for a forecast of further price declines<\/a> in the Toronto condo market. First-time buyers, this could be good news for you. Bulking up on frozen food<\/a><\/p>\n Your freezer should be 70 to 80 per cent full to work most efficiently. Stuffing it with bulk purchases can over-fill your freezer, and result in you forgetting about food that ends up damaged by freezer burn.<\/p>\n What to do about RRIF withdrawals<\/a><\/p>\n The Liberals promised in the recent federal election campaign to reduce the minimum mandatory withdrawal this year from registered retirement income funds by 25 per cent. Here are some thoughts on what to do with RRIFs while we wait for the new government to find out how this temporary rule change will be administered.<\/p>\n From our readers<\/p>\n Do you have a question or comment for me? Send it my way.<\/a> Sorry I can\u2019t answer every one personally. Questions and answers are edited for length and clarity.<\/p>\n Tools and guides<\/b><\/p>\n This chart shows how women live longer<\/a> than men in every country. <\/p>\n More PF from The Globe<\/p>\n Want to die well? Death doulas<\/a> are on the rise in end-of-life and estate-planning.Welcome home, snowbirds<\/a> \u2013 but don\u2019t forget your U.S. tax filings.<\/p>\n","protected":false},"excerpt":{"rendered":"A refreshing change brought on by a stagnant real estate market is that you no longer hear people…\n","protected":false},"author":2,"featured_media":98639,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3093],"tags":[9884,8047,51,45864,474,45867,45863,2499,45872,45865,45869,45871,45868,45870,45866,16,15],"class_list":{"0":"post-98638","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-appwebview","9":"tag-aud-url","10":"tag-business","11":"tag-carrickmoneynewsletter","12":"tag-finance","13":"tag-high-interest-saving","14":"tag-newsletter","15":"tag-personal-finance","16":"tag-personal-finance-advice-canada","17":"tag-personal-finance-canada","18":"tag-personal-finance-newsletter","19":"tag-personal-finance-planning","20":"tag-rob-carrick","21":"tag-rob-carrick-personal-finance","22":"tag-savings-strategy","23":"tag-uk","24":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114501758681888644","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/98638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=98638"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/98638\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/98639"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=98638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=98638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=98638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}