In a survey of millionaire baby boomers (of which I was NOT included), more than 50 percent said they had no plans to leave an inheritance to their children. One woman was quoted as saying she had made a lot of sacrifices for her children over the years, including paying her daughter's medical tuition.
Yes, we boomers have made sacrifices for our children over the years. I have gone without a new outfit on many occasions in order to make sure my daughter had clothes on her back and food on the table. I have passed up on exotic vacations so I could keep a roof over our heads. I spent my life working jobs I hated, often at the expense of my health or personal relationships.
It's funny---all of MY hard work, didn't make me a millionaire baby boomer.
According to the survey conducted by investment firm,
U.S. Trust, some wealthy boomers worry that their kids will squander inheritance money or develop a sense of entitlement.
Correct me if I'm wrong, but many of the children of baby boomers that I've seen grew up believing that had a sense of entitlement because that's what their parents demonstrated. They were spoiled little rich kids who became intolerable young adults.
Perhaps this is a topic I'm not qualified to speak on because I don't fall into the "wealthy boomer" category and I do plan to leave my daughter whatever I have. Yes, I'm the minority--AGAIN.
To read the entire article, click here:
No Baby Boomer Inheritance
A man and his ever-nagging wife went on vacation in Jerusalem . While they were there, the wife passed away. The undertaker told the husband, "You can have her buried here in the Holy Land for $150 or we can have her shipped back home for $5,000. The husband thought about it and told the undertaker he would have her shipped back home. The undertaker asked him, "why would you spend $5,000 to have her shipped home when you could have a beautiful burial here, and it would only cost $150????" The husband replied, "Long ago, a man died here, was buried here, and three days later, rose from the dead. I just can’t take that chance!"
