An intersting article from Wall St Journal
( http://online.wsj.com/article/SB10001424052702303990604577370001234970954.html?mod=e2tw) talks about baby boomers (like myself) not inheriting as much as we figured. Of course, I figured on nothing from my parents, but:
For years now, there's been a lot of talk about boomers getting tremendous windfalls as their parents pass on. Many boomers, in fact, have been lagging behind in their savings, betting on—hoping for—big bequests, especially since many of them suffered big losses in 2008.
But for a growing number of boomers, things aren't going according to plan. The postwar generation is living longer—and many are spending their savings along the way. And, of course, many of them also took a hit in 2008.
The result is that, as a group, boomers likely won't be getting as much of an inheritance as they hoped. Even worse, far from receiving a bequest, a growing number are tapping some of their own savings to help their cash-strapped parents make ends meet. ....
Ms. Becker, now 63, says she certainly doesn't begrudge her parents for outliving their savings. The Steins built a thriving plumbing and heating business that now employs Ms. Becker and her husband, among other family members. Still, as Ms. Becker's in-laws enter their 90s, she worries that "their money is running out, too."
How kind of her not begrudging her parents living longer!
We hope to leave our kids an inheritance, but if PO gets reelected it will be much less than we hoped!