The news has been talking a lot about this great generational wealth transfer over the next two decades. The baby boomers are leaving their significant assets to their heirs and other designated charities. Unfortunately, I get zero. My parents raised ten of us and struggled to put food on the table. Dad worked over forty years for the railroad and was able to benefit from pension. Mom got a supplemental spousal amount as well and rents a two bedroom apartment. So there’s no flush retirement accounts to draw down, nothing. Even if they did have a small amount it would likely be divided by ten which would leave me with again, zero.
On my wife’s side, zero again. Her dad passed away at age fifty-three and her mom had to raise three younger kids. She is on a fixed income, has a reverse mortgage and does not have any retirement savings.
Let me hear from you if you stand to benefit from this great wealth transfer. If you believe you’re in line for monies over $50,000 let me know. Also let me know what you plan to do with your windfall.
Best,
Kevin