The United States is lagging behind other parts of the world when it comes to leaving inheritances for future generations, CNNMoney reported.
American retirees expect to leave an average inheritance of almost $177,000 to their heirs, the sixth highest of any country, according to a survey of more than 16,000 people in 15 countries done by HSBC, a multinational banking and financial services company based in London.
Australian retirees are the most generous, with inheritances averaging more than $500,000, thanks in part to the country's high real estate prices. Singapore was second at nearly $371,000, and the United Kingdom, France and Taiwan followed.
Around the world, 69 percent of retirees plan to leave an inheritance to their offspring, at an average of $148,000. Retirees in India were most likely to do so, with 86 percent expecting to leave money behind, and American retirees were the least likely, with 56 percent expecting to give inheritances to their children.
About two-thirds of U.S. respondents said the inheritances they receive will at least partly fund their retirement, and 10 percent said they will rely on their inheritance completely to retire.