Receiving an inheritance — especially if it's unexpected or far more than you expected — can be a life-changing event.
However, many heirs are not prepared to manage such wealth in a way that will make it last throughout their lifetimes, and beyond. According to RBC's Wealth Transfer Report, only 35 percent of inheritors said they were prepared by their benefactors before receiving wealth and 36 percent said that they had received no help after getting their inheritance.
This causes roughly 70 percent of people who are left money to lose it within a few years, according to the National Endowment for Financial Education.
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