In the near future a massive amount of wealth, estimated to be in the trillions, is going to transfer from one generation to the next. There are many people who are not prepared to receive an inheritance. This article discusses how about one out of three Americans who receive a large inheritance will blow through it. People that receive a large inheritance should use pragmatism and caution when investing it. Paying off high interest debts is a good way for people to place themselves in a better financial position. Making promises that cannot be kept is another thing to be avoided by those who do not want to be the cause of hurt feelings.
See Elizabeth O’Brien, One in three Americans who get an inheritance blow it, Market Watch, September 3, 2015.
