Millennials are likely to enjoy the biggest "inheritance boom"

dowie said:
suddenly this older generation has a massive incentive to free up their property full of spare rooms they don't need, faffing about bits re: IHT only need apply to the richest and everyone else need only worry about selling a home and paying a bill based on it
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The reality of trying to downsize means you're often out of pocket. That's why they don't do it.
 
No1newts said:
The inheritance boom won’t teally help millennial if people live to their life expectancy. They’ll be getting it when they are 55+ so it will probably skip their generation and go straight to their kids.

That’s what will probably end up happening with me anyway.
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YES

My nan and grandad are in their very late 80s and dad has been retired for four years now.

I think inheritance should skip a generation down.

Basically to me. Then my dad's goes to my son and mine to my grandkids
 
Given how my grandparents reached 90 and my partner's grandparents are still alive at 92, all our problems will be solved just as I retire at 67+ (by which stage our parents will probably be dead), having paid hundreds of thousands of pounds on rent over that period... Happy days!:rolleyes:

The only problem is that both my partner and I have siblings to share this housing inheritance fortune with.
 
Two problems with this:

1) We're assumed to be living longer, and those with assets (houses) will be expected to pay towards their care costs & subsidise those who haven't got the same amount of assets. This care need could go on for 20+ years and therefore drastically reduce any inheritance.

2). What about those who are recent immigrants into this country? There are millions of people who don't have intergenerational wealth coming their way, will this mean there will be a sub-section of society permanently locked out of home ownership?
 
danielanthony said:
Two problems with this:

1) We're assumed to be living longer, and those with assets (houses) will be expected to pay towards their care costs & subsidise those who haven't got the same amount of assets. This care need could go on for 20+ years and therefore drastically reduce any inheritance.

2). What about those who are recent immigrants into this country? There are millions of people who don't have intergenerational wealth coming their way, will this mean there will be a sub-section of society permanently locked out of home ownership?
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Return to country of origin.
 
Ayahuasca said:
Do you ever follow up your threads with some decent context to your posts? It’s just pretty simplistic one line replies to everything and you call millennials lazy :p
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Does it not answer the problem proposed? A lot will return to their native country once they have accumulated some wealth, I know a few who have or are in the middle of doing just this.
 
The only winner here is the tax man imo.

If "millennials" (of which I'm one apparently) have any sense, they'll pass the money straight to their children and keep what they have for themselves.
 
As others have said here, I won't be getting anything until it's too late to really help. I have a daughter and a fiance now, and a house is top of our list of priorities. By the time any inheritance happens, which won't include a house, I'll hopefully already have one anyway. My daughter will be the one who benefits, and that's fine by me.

Doesn't mean I don't resent high house pricing any less though.
 
I imagine that, for many, care costs will erode the value of many potential inheritances over the next couple of decades. The NHS is creaking, but it is still doing enough to provide sufficient medical support to keep older people alive for longer. The cost comes when they need someone to look after them, feed them, clothe them and shove the medication into them nine times a day. Unfortunately, that's rather expensive.

dowie said:
Personally I think student debt ought to be wiped for nurses, soldiers, police, teachers etc.. subject to a certain amount of public service but for others it mostly down to their own life choices... do well in a law degree at a good uni and get a high paying job then not much issue, do a course in advanced basket weaving at a uni that required 2 Es at A-Level and get 50k into debt then that's your own fault.
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I think the concept of wiping student debt is a good one, but I'd target it according to the economic or social need anticipated over the next 5 - 10 years. If only the nation had a plan to actually think that far ahead...
 
A messy breakup/divorce between my parents means that I probably won't be inheriting anything, but anything I do get will likely end up going to my daughter.

I hope that the following generations end up better off, and that this is currently a blip rather than the early x/baby boomers being the exception.
 
Not everyone has something to inherit. Which is horrible situation.

I'll be ok. I also don't want kids which is a massive stress.

Do feel very much sorry for those with no inheritance
 
It would be nice if all these baby boomers weren't incessantly popping up on "A Place in the Sun" or "Homes Under the Hammer" - or playing amateur landlords to make a quick buck for their next 3 week jaunt in the Canaries -- and spend all the money -- instead of what they should be doing which is giving their kids a tidy £50k whilst it's actually useful to set them up on the property "ladder" and save them from an inevitable lifetime of paying some other ****s mortgage. Rather than wait until they've spunked all their extra money, their kids are in their fifties and you now need four times that amount for a deposit on a flat.

Me? Bitter? No..
 
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