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Leaving An Inheritance Less Important To Baby Boomers
According to a survey of millionaire baby boomers by U.S. Trust, just 49 percent said it was important that they leave money to their children when they die. More than half of the respondents said they haven’t told their children what they’re worth and one in five said they feared their children would waste the money. One quarter of participants said they worried their children would become lazy. For baby boomers with longer life expectancies than previous generations, having enough money to last through retirement is a concern. But boomers also cited the financial assistance they’ve given their children throughout their lives and a desire to indulge themselves after a lifetime of financial sacrifices and demanding careers. More here.