If you’re thinking that you’ll get an inheritance someday and don’t have to save for yourself now, think again.
“There are way too many adult children I see who are looking at Mom and Dad’s estate as their ticket to a secure retirement,” says M. Holly Isdale, an estate planner in Bryn Mawr, Pa. “But with people living longer, much of the money is likely to be spent.”
Oh, and this:
Even the affluent are pulling back. Among those with $250,000 or more in investible assets, only 41% said preserving inheritances was a top concern, down from 54% in 2009, according to a Merrill Lynch survey released earlier this year.
Plus, the whole “sandwich generation” thing. Here’s the full article.