Guest on line: Matseleng Mogodi who - a Life and Executive Coach and founder of I Get It Now.
Guest on the line: Dr Mpumelelo Ncube -HoD & Senior Lecturer Dept. of Social Work University of the Free State
An inheritance can be either highly divisive or liberating depending on how you manage it.
Inheritance is a tricky thing to talk about, a subject that wraps up money, family, and death in one impossible package. For those who receive it, or stand to, it’s wealth that comes at a terrible moment; a boon and bureaucratic puzzle; and a reminder of someone you lost. For those who won’t be seeing any family money — which is to say, most people, but more on that later — it can feel deeply unfair. Millions of people lose loved ones and suffer greatly and only find their lives, and paying off their own debts, that much more difficult.
But inheritance is a conversation we need to have, because a great wealth transfer is upon us, coming soonest. A large amount of cash is expected to move from the pockets of boomers to everyone younger, though guesses at just how much and when vary: Forbes reports $30 trillion over “many years,” PNC says $59 trillion by 2061, CNBC mentions $68 trillion and 25 years, and the New York Times confirms the variety of these assessments but puts it at around $15 trillion over the next decade.