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Millennials to enjoy 'inheritance boom'

From BBC - December 29, 2017

Millennials will enjoy the biggest "inheritance boom" of any post-war generation, but it will be too late to solve housing struggles and wealth inequality, a report says.

Those who have parents and grandparents in the "baby boomer" generation will be left record sums of wealth, the Resolution Foundation said.

But they will have to wait - until, on average, the age of 61, it suggests.

The think tank defines millennials as those currently aged 17 to 35.

The Resolution Foundation said that inheritances were set to more than double over the next 20 years, and this will peak in 2035, as the generally high-wealth baby boomers progress through old age.

Almost two-thirds of young adults have parents who own property, which they may get a share of in the future, the report said.

By comparison, only 38% of adults born in the 1930s received an inheritance.

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