Both Marshall Loeb and the Wall St Journal today warn against counting on an inheritance, especially when you are planning your retirement.
The elderly are living longer and better. Those assisted living communities and nursing homes can eat up what you thought you had coming.
An AARP study in 2001 showed that 5 in 6 boomers reported that they had not received an inheritance and the same proportion said they did not expect to get one.
About 64% of those who receive bequests of $100,000 or more are already well off says the Journal.
So save your money boomers. You're likely to be on your own financially.
Posted by Jill Fallon at October 26, 2005 2:45 PM | Permalink