Most parents in Canada say they won&#8217;t be able to leave their kids an inheritance as they grapple with the rising cost of living.
It seems that the impact of high living costs will be felt by future generations. According to a <a href="https://www.globenewswire.com/news-release/2025/05/21/3085684/0/en/Cost-of-Living-now-the-top-threat-to-inheritance-plans-Canadian-study-finds.html" target="_blank" rel="noopener">new national study</a> by Money Wise Institute, 57 per cent of parents now &#8220;expect to spend most of their wealth during their lifetime.&#8221;
&#8220;Eighty per cent of Canadian parents say the rising cost of living is the biggest risk to their leaving an inheritance,&#8221; reads the study.
The situation is taking a heavy emotional toll.
Caught between the cost of living in Canada and a sense of parental duty, 22 per cent of parents said that they feel guilty for prioritizing their own financial security over their children&#8217;s inheritance.
The situation gets much more complicated as the survey reveals that parents&#8217; reality and their children&#8217;s expectations don&#8217;t align.
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Fifty-five per cent of millennials and Gen Z still expect to receive their inheritance. In fact, a quarter of millennials and Gen Z said that it will impact their financial plans if they don&#8217;t receive an inheritance. Meanwhile, 34 per cent said they don&#8217;t know how they&#8217;ll manage without an inheritance.
&#8220;We&#8217;re seeing a quiet collision of assumptions,&#8221; said Kelley Keehn, CEO of Money Wise Institute.
&#8220;Parents are dealing with rising costs and personal financial uncertainty, while the next generation of Canadians is quietly counting on wealth that may never come. The result isn’t just tension — it’s a breakdown of trust, planning, and emotional connection.&#8221;
Gary Teelucksingh, co-founder of Money Wise Institute and former global financial services CEO, said it&#8217;s important to speak with a qualified financial professional to help with these difficult conversations and navigate financial goals.
&#8220;We often say inheritance isn&#8217;t just about money — it&#8217;s about meaning,&#8221; he said. &#8220;But in the absence of structure or planning, even good intentions can create conflict.&#8221;
Are you a parent who worries about leaving an inheritance for your children? Send us an email at <a class="c-link" href="mailto:trending@dailyhive.com" target="_blank" rel="noopener noreferrer" data-stringify-link="mailto:trending@dailyhive.com" data-sk="tooltip_parent" aria-haspopup="menu">trending@dailyhive.com</a>. A reporter will contact you for a future story, and we can accommodate anonymity.
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Most parents in Canada said they won't be able to leave their kids an inheritance as they grapple with the rising cost of living.