Baby boomers, hate to tell you this, but your inheritance is about to go bust.
Only 14 percent of parents of boomers think they owe their kids an inheritance, Money reports. Instead, they’ll spend their dough on fun with their family and health care (well, it’s hard to blame them for that one).
“Culturally, the idea of a legacy has disappeared for all but the very wealthy,” Hendrik Hartog, author of Someday All This Will Be Yours, tells Money.
Mwah! That was the sound of our kissing any foreseeable retirement far, far away.
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