Do you really live a legacy?

According to the global survey from HSBC Future of Retirement, many people of working age in the United States and around the world hoping to live off an inheritance after leaving the workforce. The question is, how long can you live on the amount you can receive?

HSBC found that nearly three in four (72%) of those who expect an inheritance say they plan to use to fund their retirement to some extent, and 10% think it will finance retire completely.

In the US, more than three in four (76%) believe it is all finance (10%) or some (66%) retire, but the probability of inheritance varies depending on the country.

people in developing countries have a greater chance of receiving a legacy that people in the United States and most other developed countries, the study found. Most retirees in India (86%), Mexico (84%), Malaysia (78%) and Brazil (71%) expect to leave their families a legacy, while in the United States a just over half (56%) are planning to do so.

The amounts of inheritance, however, are more modest in developing countries, ranging from an average of $ 39,000 to $ 132,000 in Malaysia to Brazil. In the US, on average expected inheritances $ 177,000, while in Australia, 69% of retirees are planning to leave their heirs $ 502,000.

Worldwide, nearly seven in 10 retirees (69%) expect to leave an average of $ 148,000 to their family members, according to the results.

While many Americans expect to leave a legacy, there are many variables that can prevent this happening. Older people often face unexpected obstacles and may need the money themselves to fund other things such as medical and nursing care in later life, and an increase in life expectancy, they can survive their income.

So back to the question: How long can you live on the amount you can receive? What if you receive very little or nothing and have limited or no savings of your own?

The time has come to take personal responsibility for your financial retirement planning to ensure sufficient income for retirement that could last 25 years. Call your agent or advisor today to start your planning.