How Important Are Inheritances for Baby Boomers?
January 3, 2011
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.
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Citation
Munnell, Alicia H., Andrew D. Eschtruth, Anthony Webb, and Zhenya Karamcheva. 2011. "How Important Are Inheritances for Baby Boomers?" Issue in Brief 11-1. Chestnut Hill, MA: Center for Retirement Research at Boston College.
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