Current U.S. retirees are expected to leave legacies to their children that are among the most generous in the world, according to HSBC’s global survey of more than 16,000 people in 15 countries. One fifth of legacies left to children by American retirees are expected to exceed $390,000.
The study reveals that a large number of working age people hope to live off an inheritance after leaving the workforce, with two thirds (66 percent) saying it would finance their retirement to some extent, and 10 percent planning to rely solely on this income to fund their retirement.
The 10 countries with the biggest inheritances, from smallest to largest, are:
No. 10. Mexico
Average inheritance: $96,347
Retirees expecting to leave an inheritance: 84 percent