MONEY: No inheritences; debts galore

http://www.telegraph.co.uk/finance/economics/8010896/Parents-wont-have-wealth-to-pass-on-report.html

Parents won’t have wealth to pass on, report
Future generations should not expect to inherit wealth from their parents following the ravages of the worst financial crisis since the 1930s, a new report has warned.
By Angela Monaghan
Published: 10:00PM BST 18 Sep 2010

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Parents won’t have wealth to pass on, report warns

The report says few Europeans are likely to have made adequate provision for their retirement, let alone passing on wealth to the next generation.

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“Europe’s working population has yet to wake up to the fact that it will not be able to retire as early as it would like, and indeed may have to work a lot longer,” Mr Bowers said.

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Hard to believe that the politicians and bureaucrats have wiped out a nation’s wealth. A life time of work destroyed. By rich corrupt politicians and their self-serving bureaucrats.

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