What if you woke up one day to discover that millions of people had suddenly won the lottery? Perhaps you'd be happy for these lucky recipients. More likely, you, with your ever-shrinking piece of the pie, would be fuming, even furious, at the injustice of it all. Then again, maybe you'd be one of the winners, quietly exhaling in relief. Finally. Some good news.
A lottery win happened yesterday, and it'll happen tomorrow, too. Between now and 2026, an estimated $1 trillion will move from Canadian baby boomers to their heirs, mostly millennials. As older Canadians live longer, even more money will stream down in the coming decades. An Ipsos sur vey found that among Canadian boomers who are planning to leave 100 per cent of their estates to their children, the average inheritance will be about $940,000.
For most people, this is life-changing wealth, enough to pay off the mortgage, to move the kids from public school to private school, to shift their status from renter to homeowner. Some heirs will receive much more-the kind of Porsche-and-penthouse money that they could never earn in their jobs as teachers, accountants, marketing managers. All of this signals an unprecedented economic shift: the greatest transfer of generational wealth in Canadian history, emerging in the form of mass good fortune bestowed upon the demographically lucky. When all the payouts have been made, Canada could look starkly different.
Bu hikaye Maclean's dergisinin October 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Maclean's dergisinin October 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
So You've Been Hacked - A new generation of ultra-sophisticated cybercriminals are targeting governments, corporations, hospitals and libraries and laying bare how ill-equipped Canada is to fight back
A new generation of ultra-sophisticated cybercriminals are targeting governments, corporations, hospitals and libraries and laying bare how ill-equipped Canada is to fight back.On a July morning in 2022, Brad Hynes, the IT manager for the town of St. Mary's in southwestern Ontario, was backing up the town's computer systems when things went haywire. File names became unintelligible strings of characters. Desktop icons went blank. File after file was impossible to open, a string of digital duds. The background wallpaper on Hynes's screen disappeared, replaced by the red-and-black logo of a Russian ransomware gang called LockBit. A line of all-caps text appeared: All your important files are stolen and encrypted!
Bill of Health - I spent years with excruciating hip pain, languishing in Canada's health-care queue. I finally paid for private surgery-in Lithuania.
My hip pain started around 2015, when I was in my mid-30s. It began as stiffness, then the odd pinch or tweak. I live with my wife, Barbara, and our three kids on an acreage in Sturgeon County, Alberta, where we raise a handful of cows and some chickens. Our lives are very active. I'm also a maintenance supervisor at a nearby provincial park. That's a physical job, too-overseeing buildings, outhouses and campsites. I'm not exactly used to sitting still, so when my hip started to hurt, I pushed through it. I figured it was something minor and did some extra stretches. Instead, it got worse.
Green Scene - Montreal's Théâtre de Verdure stages plays and musical performances against a naturally beautiful backdrop
Théâtre de Verdure is a setting straight out of William Shakespeare's A Midsummer Night's Dream: a thespian's paradise in the middle of a lush woodland. Since 1956, the open-air stage has occupied an island in the middle of Montreal's Parc La Fontaine, exposing park-goers to regular, accessible (read: free) and dazzling productions.
Log Off To Find Love - Apps have gamified meeting and mating-and affected our social skills for the worse. The real future of dating is offline.
In 2017, after being single for a few years, I wanted to get back into the dating game. I was newly sober at the time, so I wasn’t super-confident about venturing into my local bar scene in London, Ontario. Instead, I leapt into the world of digital dating via Bumble, which, back then, required women to send the first message. I thought, That’s feminist. I’m a feminist. Let’s try it! My first few months online provided me with an emotionally exhausting education.
"I escaped Gaza and sent my family to Egypt. Now, my goal is to reunite with them in Canada."
Bombs destroyed my neighbourhood and killed my loved ones. I hope my family and I can find refuge in Quebec.
TIDAL WAVE
Susan Lapides chronicles her family's summers in a tiny New Brunswick fishing town
THE NORTHERN FRONT
In Ontario's hinterlands, a battle is brewing between First Nations, prospectors and the provincial government over a multi-billion-dollar motherlode of metals. Inside the fight for the Ring of Fire.
THE CULTURE WAR IN THE CLASSROOM
Several provincial governments now mandate parental consent for kids to change pronouns in Schools. Who gets to decide a child's gender?
THE JACKPOT GENERATION
Canada is in the midst of the greatest wealth transfer of all time, as some $1 trillion passes from boomers to their millennial kids. How an inheritance-based economy will transform the country.
My Child-Free Choice
For a long time, I wasn't sure whether I wanted to become a parent. The climate crisis clinched my decision.
