{"id":1293,"date":"2024-01-02T11:01:17","date_gmt":"2024-01-02T11:01:17","guid":{"rendered":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/?p=1293"},"modified":"2025-02-17T22:06:24","modified_gmt":"2025-02-17T22:06:24","slug":"the-greatest-wealth-transfer-in-history-is-here","status":"publish","type":"post","link":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/2024\/01\/02\/the-greatest-wealth-transfer-in-history-is-here\/","title":{"rendered":"The Greatest Wealth Transfer in History is Here"},"content":{"rendered":"\t\t
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\n\t\t\t\t\t\t\t\t\tAs some of the youngest Baby Boomers turn 60 this year, and the oldest approach 80, the greatest intergenerational wealth transfer is now in motion. It is expected that over $1 trillion of wealth will be transferred to Canadians \u2014 a number that has grown with the price growth in the financial and housing markets.1 Consider that the S&P\/TSX Composite Index Total Return is up by over 3,000 percent since the start of 1983!\n\nMirroring the distribution of wealth, this transfer is expected to disproportionately affect higher-income households. In Canada, the top 20 percent of households hold more than two-thirds of all net worth, compared to the bottom 40 percent, which hold just 2.8 percent.\n\nHave you prepared for your own wealth transfer? Back in 2017, a survey suggested that only 22 percent of high-net-worth Canadians had a detailed plan to pass along assets, though nearly 60 percent were not confident in their children\u2019s ability to preserve or grow their inheritance.4 One of the more positive outcomes of the pandemic appeared to be that more Canadians were influenced to put a greater focus on estate planning, at least when it came to the basics of preparing a will.5 However, a recent Angus Reid poll suggests this may not be the case: the statistics about wills haven\u2019t significantly changed\n\nAs the costs of living, housing and raising families continue to surge, for many investors the tactics of estate planning may also be evolving. Some are pursuing a \u201cgiving while living\u201d strategy. Others are using insurance or trusts to help support future generations and create a lasting legacy. If you have yet to give your estate plan the thought it deserves, why not make this a priority before year end? It has the potential to enhance your overall wealth management and can be one of the greatest gifts you leave for your loved ones. For ideas on where to start, please call.\n\n\"\"\n\n

The information contained herein has been provided for information purposes only. Graphs, charts and other numbers are used for illustrative purposes only and do not reflect future values or future performance of any investment. The information has been provided by J. Hirasawa & Associates and is drawn from sources believed to be reliable.\nThe information does not provide financial, legal, tax or investment advice. Particular investment, tax, or trading strategies should be evaluated relative to each individual\u2019s objectives and risk tolerance. This does not constitute a recommendation or solicitation to buy or sell securities of any kind. Market conditions may change which may impact the information contained in this document. Wellington-Altus Private Wealth Inc. (WAPW) and the authors do not guarantee the accuracy or completeness of the information contained herein, nor does WAPW, nor the authors, assume any liability for any loss that may result from the reliance by any person upon any such information or opinions. Before acting on any of the above, please contact me for individual financial advice based on your personal circumstances. WAPW is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.\n\u00a9\ufe0f 2023, Wellington-Altus Private Wealth Inc. ALL RIGHTS RESERVED. NO USE OR REPRODUCTION WITHOUT PERMISSION<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

As some of the youngest Baby Boomers turn 60 this year, and the oldest approach 80, the greatest intergenerational wealth transfer is now in motion. It is expected that over $1 trillion of wealth will be transferred to Canadians \u2014 a number that has grown with the price growth in the financial and housing markets.1 […]<\/p>\n","protected":false},"author":68,"featured_media":3017,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_oasis_is_in_workflow":0,"_oasis_original":0,"_oasis_task_priority":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[40],"tags":[81,165,145],"class_list":["post-1293","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","tag-investment-insights","tag-saving-strategy","tag-wealth-planning"],"_links":{"self":[{"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/posts\/1293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/users\/68"}],"replies":[{"embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/comments?post=1293"}],"version-history":[{"count":3,"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/posts\/1293\/revisions"}],"predecessor-version":[{"id":1676,"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/posts\/1293\/revisions\/1676"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/media\/3017"}],"wp:attachment":[{"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/media?parent=1293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/categories?post=1293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/tags?post=1293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}