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Ordinary folk too can build wealth for the next generation
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Planning early can help avoid what’s called a reverse wealth transfer.
PHOTO: ST FILE
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SINGAPORE – A huge transfer of wealth is under way across the world as baby boomers who enjoyed the rapid economic growth since World War II pass on trillions of dollars worth of real estate, stocks and cash to a new generation.
Not everyone will benefit of course, but it does not mean those of us from more humble backgrounds cannot secure financial security for ourselves and the next generation, say financial advisers.
