Posts Tagged ‘Inheritance’

Preparing Not to Inherit

An unexpected windfall would certainly be
a welcome gift for many people, but counting on an
inheritance to fund your retirement years could be a grave
mistake. Surveys suggest that only about 2% of baby boomers
have inherited $100,000 or more. Half of the baby boomers
who did inherit funds received $48,000 or less.¹

Numbers like that make it clear that preparing for
retirement will require adequate saving and investing — not
just working hard to stay in the good graces of wealthy
relatives.

More Americans are spending down their retirement savings
while living longer, more active, and more expensive lives.
Volatile real estate values, an uncertain economy, and ups
and downs in the market have also affected many retirement
portfolios. All these factors, in addition to expensive
health-care costs and higher living expenses in general,
could actually result in aging family members having fewer
assets to leave behind.

You may have family members who would love to leave you a
tidy sum, but it could be disastrous to leave your financial
future to chance. Be prepared to fund your own secure
retirement. If a windfall should one day come, you just
might be in the enviable position of leaving a lasting
legacy yourself.

1) The Wall Street Journal, June
14, 2008

This material was written and prepared by
Emerald Publications.
© 2009 Emerald Publications