The (rising) age of inheritance
March 14th, 2018
When you’re struggling to achieve life’s major goals, such as getting onto the property ladder, the windfall of receiving an inheritance could make all the difference.
However, a December 2017 report by the Resolution Foundation has found that people currently aged between 25-35 – known as millennials – will have to wait until they are nearly at retirement age for their inheritance.
The research found that, on average, millennials will be 61 before they receive an inheritance. When the older generations’ estates are eventually passed on, the good news for millennials is they’re likely to receive larger levels of wealth. The Resolution Foundation states that inheritances are set to double over the next two decades, peaking in 2035.