FYI: My wife and I recently had a retirement and inheritance discussion with her parents. During our conversation it was mentioned how much they plan to leave for inheritance. We’re already on track to retire in our early 60s. However, I’m curious if I should try to incorporate the additional inheritance, it’s a significant amount but I don’t expect, nor do I want to receive this money well into our retirement. What I’d really like to do is tell them to keep the money but pay for my kids’ college and that would free up significant money now that I could direct other places.
This is obviously a good problem to have and it’s one people in the financial services industry have been harping on for years. There have been endless think pieces and presentations given about the coming $30 trillion wealth transfer from baby boomers to the next generation.
Like most things in the world of finance, if this money is someday transferred to the next gen, it will likely benefit people at the top of the wealth scale the most:
Regards,
Ted
http://awealthofcommonsense.com/2019/05/financial-planning-for-an-inheritance/
