Major ‘Wealth Transfer’ Expected as Boomers Age: StatCan

Major ‘Wealth Transfer’ Expected as Boomers Age: StatCan
Cyclists ride past homes in a residential neighbourhood in Vancouver in a file photo. The Canadian Press/Jonathan Hayward
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Canadians are expected to see one of the biggest wealth transfers in history as older homeowners bestow gifts and inheritances on their heirs, according to a recent Statistics Canada report.

“A looming wave of interfamilial wealth transfers is set to occur as baby boomers age,” a March 26 Statistics Canada report said, as first reported by Blacklock’s Reporter.