How Important Are Inheritances for Baby Boomers?
The brief’s key findings are:
- Baby boomers could inherit about $8.4 trillion.
- Two-thirds of boomer households will likely receive some inheritance, with a median amount of $64,000.
- But inheritances are not a silver bullet:
- 70 percent of the estimated total represents prospective amounts.
- Market volatility can have a substantial impact.
- Boomers’ parents may pass on less if their own retirement needs are greater than expected.