Sorry Kids, No Inheritance for You

Tuesday, 06 September 2011 | by Pat's Picks

Feeling as though they’ve given their children enough already, many baby boomers are spending the money they’ve saved on themselves says the LA Times. Explains a wealth management specialist: “They say, ‘If there’s something at the end I’d love [the kids] to have it, but what’s important for me now is to get what I’ve earned, which is to travel and have a nice bottle of wine.’” Other feel like they’re doling out their inheritance by paying for pricey college tuition, or the down payment on a second bedroom.