A new study in England warns that young people will increasingly rely on inherited wealth to determine how rich they become. Decreasing home ownership, shrinking pensions, and suspending incomes will make it more difficult for the younger generations to accumulate wealth. Future financial prospects for the young will now be determined by the size of their inheritances. Many are saying that the government needs to take hold of the crisis and promote advances such as home building before the disparity gap widens.
See Rob Merrick, Inherited Wealth Will Decide How Rich Young People Will Become, a Study Warns, Independent, January 5, 2017.
Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.
