Monday, July 31, 2006

Philadelphia Inquirer | 07/30/2006 | For boomers, not-so-great expectations of a windfall

Philadelphia Inquirer | 07/30/2006 | For boomers, not-so-great expectations of a windfall: "For boomers, not-so-great expectations of a windfall
By Rita Giordano and Lini S. Kadaba
Inquirer Staff Writers

Remember those headlines of the 1990s that suggested baby boomers would reap a mega-windfall of trillions of dollars - one of the largest intergenerational transfers of wealth in history?

As many are learning, it's not quite panning out that way.

A recent AARP study based on 2004 federal data has found that nearly 81 percent of boomers - the oldest of whom are turning 60 this year - have yet to receive an inheritance, and less than 15 percent expect to ever get one, down from more than 27 percent in 1989."

No comments: