By JLP | June 3, 2009
Here’s a question I don’t think I have ever asked before:
Do you expect an inheritance sometime in the future?
My wife and I don’t for a couple of reasons:
1. My grandparents have all passed away and left what little they had to their kids (my parents and their siblings). My wife’s remaining grandparents are healthy and doing great.
2. Our remaining parents are still fairly young (they were all born in 1951) and will most likely need their savings to provide for their retirements.
I think inheritances will be limited to families who have a substantial estate or maybe a family business. I think everyone else is going to spend everything they have (and more) providing for themselves during retirement.