How Important Are Inheritances for Baby Boomers?

Alicia H. MunnellAndrew D. EschtruthAnthony Webb Zhenya Karamcheva

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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.