Front Burner
Encore: Canada’s millennial ‘Jackpot Generation’
Dec 30, 2024
Katrina Onsted, a freelance reporter and producer for the Globe and Mail’s tech business podcast, dives into the staggering inheritance expected for Canadian millennials—up to one trillion dollars from their boomer parents. She unpacks the generational economic divide, exploring the struggles millennials face like student debt and stagnant wages. Onsted discusses the emotional complexities of inheritance, including guilt and obligation. The conversation highlights the potential societal impacts of this wealth transfer amid rising economic challenges in Canada.
20:48
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Canadian millennials are poised to inherit $1 trillion from boomers, but wealth distribution will likely worsen existing socioeconomic inequalities.
- The trend of 'giving while living' alters family dynamics and relationships, as parents increasingly support their adult children financially during their lifetimes.
Deep dives
Generational Wealth Disparities
In the next two years, Canadian millennials are set to inherit approximately $1 trillion from their boomer parents, marking the largest intergenerational wealth transfer in Canada’s history. However, the distribution of this wealth is uneven, heavily dependent on housing ownership. While the average inheritance among boomers is around $940,000, it is crucial to note that not all families have access to this wealth, particularly those whose parents did not invest in property during favorable market conditions. This disparity raises questions about equity and access to financial opportunities among millennials, as those lacking familial wealth may miss out on the advantages that this inheritance provides.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
