March 10, 2016
INHERITING MONEY WISELY – What to do With Stocks And Real State

INHERITING MONEY WISELY – What to do With Stocks And Real State

INHERITING MONEY WISELY – What to do With Stocks And Real State Baby Boomers are coming into a vast piece of wealth, in the form of inheritance from their parents’ generation. Boston College researchers say that the transfer, by the time all is said and done, will total $8.4 trillion. If you are in your 50s or 60s there’s a two out of three chance you will be part of this movement, with the median inheritance totaling $64,000. Even if you are in your 30s or 40s (i.e. a member of Generation X) you may already be receiving some of this wealth. These inheritances fall into two categories: qualified and nonqualified. Qualified assets are the IRAs, 401(k)s, and other accounts set up to defer taxes. Here we will be talking about nonqualified assets: the home, the piece of real estate, the stocks, the collectibles—everything left over from a lifetime.   So what do you do if you’re one of the lucky ones? At Heritage Investors, we believe the best answer is “nothing,” at least for a little while. We all know the story: someone inherits a fortune and goes nuts, spending it in a few years with nothing to show […]
March 4, 2016
Inheriting Money Wisely – What to do with IRAs, 401(k)s and Similar Plans

Inheriting Money Wisely – What to do with IRAs, 401(k)s and Similar Plans

Inheriting Money Wisely – What to do with IRAs, 401(k)s and Similar Plans We have begun an enormous transfer of wealth between generations, and chances are pretty good it will affect you. According to researchers at Boston College’s Center for Retirement Research, people now in their 50s and 60s—the Baby Boomers—will inherit $8.4 trillion from their parents’ generation—World War II’s Greatest Generation. Really, the process has just begun; as of not too long ago, just over a quarter of the transfer had taken place, meaning more than $6 trillion of this transfer is yet to come. So how does that affect you? If you are a Baby Boomer, there’s a two out of three chance you are (or will be) part of this transfer (the median inheritance is $64,000). In fact, the wealth has begun to make its way down to Generation X, the post-Baby Boom generation of people now in their 30s and 40s. If you are lucky enough to receive a sizable inheritance, make sure you handle it wisely. We’ve all read the stories of people who blew through large inheritances or multimillion-dollar lottery winnings and ended up with nothing to show for it. Let’s make sure that’s […]