Millennials Inheritance Not Guaranteed: Boomer Parents Overspending

Money doesn't last forever. Even the rich have to monitor spending to keep it.
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Money doesn't last forever. Even the rich have to monitor spending to keep it. Although Millennials are expected to be the beneficiaries of the largest wealth transfer in history, family wealth and assets fail to outlive the generation that created it 90% of the time.That's typically due to a breakdown in communication within the family because heirs are unprepared or as a result of tax or legal issues. In fact, a Merrill Lynch study found that 69% of high net worth Americans want their money to last through their children's lifetimes, 43% through their grandchildren's lives and 17% want it to last forever.