Maybe your stingy boomer parents should give you their money now
Over the next 20 years the United States will see a massive transfer of wealth as boomers leave trillions of dollars to their children as they pass away. A contingent of those children are asking, “What if we got that money, now?” Millennials and Gen Z want to be able to take advantage of the […]
A senior couple in Minnesota relocated to central Florida, where they hope to embrace a more carefree lifestyle with their new convertible sports car. In the years to come, the United States will witness a substantial transfer of wealth as Baby Boomers pass on trillions of dollars to their children upon their demise. However, some children are questioning whether they should receive those funds earlier.
Millennials and Generation Z are eager to take advantage of the inheritances they stand to receive before their parents' passing. While most parents do help their offspring, many with the means exhibit reluctance in doing so.
Bill Perkins, an entrepreneur and author of the book "Die with Zero," argues that these parents should consider giving their money sooner rather than later. Perkins suggests that it would be more beneficial for children to receive the money while they are young adults rather than in their 60s when they might already be financially secure.
Perkins joined Today, Explained co-host Noel King to discuss the philosophy behind his book and why the optimal time to give is now. In their conversation, Perkins elaborates on the rationale behind this idea.
Written by urgent.news from Vox's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
