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69% of Australian Retirees expect to leave a very significant inheritance to their children; HSBC Survey
Topic Started: 21 Sep 2014, 11:17 PM (11,732 Views)
ThePauk
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peter fraser
23 Sep 2014, 06:32 PM
How many millionaires did they survey?

And do you think that the mega wealthy are representative of everyone? The reason that the mega wealthy are concerned about leaving their fortune to their children is because their children have never developed a work ethic - perhaps those are legitimate concerns, but that is a quite different predicament to the rest of a generation.

You are the one asserting that the boomers don't intend to leave an inheritance but the previous generation did (which I accept) and you then say that the generations after the boomers also intend to leave a generous inheritance, so prove that the boomers intend to not leave an inheritance and then prove that GenX and GenY intend to leave a greater inheritance than the boomers.

It's your theory - prove it. Show us a chart from a respected survey or study, not just some journalists or demographers opinion.
Peter
You are skilled at trolling I see. Problem is you have dug yourself into a hole and no amounts of studies I provide will change your mind. Noted and not wasting any of my time on trying to move your rock.


Edited by ThePauk, 23 Sep 2014, 06:42 PM.
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peter fraser
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ThePauk
23 Sep 2014, 06:39 PM
Peter
You are skilled at trolling I see. Problem is you have dug yourself into a hole and no amounts of studies I provide will change your mind. Noted and not wasting any of my time on trying to move your rock.

Here is a CNBC article claiming that the boomers in the USA will leave a staggering $30 Trillion to their children or grandchildren.



Quote:
 
Great wealth transfer will be $30 trillion—yes, that's trillion with a T

Cam Marston, special to CNBC.com
Tuesday, 22 Jul 2014 | 8:00 AM ET
CNBC.com

The "great wealth transfer" is under way.

According to a study from consulting firm Accenture, baby boomers have started to pass along their life savings to their heirs, and this process will continue over the next few decades. When done, some $30 trillion will be transferred from one generation to the next.


link here - http://www.cnbc.com/id/101751416#.

But like your studies and surveys it actually proves nothing until after the event. Maybe in 20 years we can get a reading on what the boomers are doing, after all the eldest are only 68 and the youngest are 50 so they are a long way away from their life expectancy, death and the transfer if their wealth, although a lot have already transferred wealth to help their children already.

So what proof do you have that the boomers won't leave an inheritance and the following generations will, apart from a few opinions of journalists and demographers?


Any expressed market opinion is my own and is not to be taken as financial advice
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herbie
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ThePauk
23 Sep 2014, 02:05 PM
Herbs
It is vague and I have no argument that the generation before the boomers wanted to leave an inheritance as part of their culture. For the boomers however, the majority do not want to leave an inheritance or will run out of money during retirment.

...

http://www.natsem.canberra.edu.au/storage/AMP_NATSEM_05.pdf

...
Your stuff is a TOTAL embarrassment Paul - That first link of yours is an investment sales pitch to baby boomers that's very obviously a decade or more old telling BBs that THEIR mummies and daddies WON'T leave THEM an inheritance.

Reading you're stuff is a waste of time. It is crap.
Edited by herbie, 23 Sep 2014, 06:52 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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peter fraser
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herbie
23 Sep 2014, 06:50 PM
That first link of yours is an investment sales pitch to baby boomers that's very obviously a decade or more old telling BBs that THEIR mummies and daddies WON'T leave THEM an inheritance.

Yes you're right, it is a piece of BS telling Boomers exactly the same line that the "studies" Paul has provided - just change the names of the generations to suit. It's a beat up to sell their financial advice services. Like "Your Mum and Dad won't leave you a cent so you need to invest with us so that we can save you"

Funny that almost all of the surveys are from institutions that offer financial advice.

The previous generation did much better than that, as I expect following generations to do if they can.

Edited by peter fraser, 23 Sep 2014, 06:58 PM.
Any expressed market opinion is my own and is not to be taken as financial advice
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ThePauk
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The comments in your link tell me much, thanks...
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peter fraser
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ThePauk
23 Sep 2014, 06:58 PM
The comments in your link tell me much, thanks...
where is your proof - if you don't have concrete data you don't have anything.

Any expressed market opinion is my own and is not to be taken as financial advice
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ThePauk
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peter fraser
23 Sep 2014, 07:00 PM
where is your proof - if you don't have concrete data you don't have anything.
lol, so SKIN does not exist in the boomers, the AXA survey is crap and all the boomers are all wanting to leave an inheritance... got it...
and HSBC is not a financial institution...got it.

Edited by ThePauk, 23 Sep 2014, 07:09 PM.
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peter fraser
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ThePauk
23 Sep 2014, 07:02 PM
lol, so SKIN does not exist in the boomers, the AXA survey is crap and all the boomers are all wanting to leave an inheritance... got it...
Here you are Paul - you can invest in the Isle of Man AXA Wealth group and probably get some tax deductions.

https://www.axa-iom.co.im/dotnet/ePublic/index.aspx

Apart from vested interests selling wealth management, or journalists or demographers opinions, what proof do you have that boomers intend to cheat their own children and what proof do you have that following generations won't do that?
Any expressed market opinion is my own and is not to be taken as financial advice
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ThePauk
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I just keep finding these bs articles all over the web Peter, it must be a conspiracy...

http://business.time.com/2011/09/06/hey-kids-of-baby-boomers-forget-about-your-inheritance/
http://www.afr.com/p/personal_finance/smart_money/inheritance_baby_boomers_leave_slim_OryNX0LRrAjUUu1HtJiIwM
http://thegreynomads.com.au/planning/before-you-go/should-we-fell-guilty/

Bottom line is that regardless of their intention, it is unlikely there will be much to leave anyways...lol
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peter fraser
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ThePauk
23 Sep 2014, 07:19 PM
I just keep finding these bs articles all over the web Peter, it must be a conspiracy...

http://business.time.com/2011/09/06/hey-kids-of-baby-boomers-forget-about-your-inheritance/
http://www.afr.com/p/personal_finance/smart_money/inheritance_baby_boomers_leave_slim_OryNX0LRrAjUUu1HtJiIwM
http://thegreynomads.com.au/planning/before-you-go/should-we-fell-guilty/

Bottom line is that regardless of their intention, it is unlikely there will be much to leave anyways...lol
Journalists - but do you have any proof?

Is the wealth management institution that did the research advertising in those media blogs and articles?
A bit like the tobacco companies did with their research claiming that smoking was harmless.
Edited by peter fraser, 23 Sep 2014, 07:27 PM.
Any expressed market opinion is my own and is not to be taken as financial advice
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