[MineralMan]

One thing that is rarely mentioned in these stories is the transfer of wealth that will happen when the parents of these baby boomers die and leave their estates to the baby boomers.

At 60, I'm on the very leading edge of the boomers. I hope my parents live to be 100, but that's not likely. Eventually, they will leave a good-sized estate. My wife is 50, and is on the tail end of the boomers. Her parents are also alive and have a substantial estate.

This should be factored into all calculations of the upcoming baby boomer retirement picture. At 60, I'm not nearly ready to retire.

[Ken522]

The government is going to get a very decent slice of those estates, Mineral ...

[litehaus]

"At 60, I'm not nearly ready to retire"...You ain't one of those dbl dippers, let alone triple dippers, Huh?

[ops33]

I told both of my children not to count on any substantial inheritance from their Mother and I. Both of us believe we are under no obligation to leave anything to our adult children. There will be some estate, mostly property and house since we must live somewhere, but our goal is to spend all of our money and enjoy it. I told them that if they want any money to do what their Mother and I did, go out and earn it.

[tiki]

That was my first thought. I always thought that we'd sell our farms for our retirement and that may still happen but we've had a couple of bad yrs. I would be despairing if we weren't getting a multi-million dollar inheritance eventually.

[xrp]

I hope my parents live to be 100

Especially not with you leaving them in that earthquake zone, you parent hating SICKO!

[Recon Dad]

How many people living in expense areas could sell homes that were purchased for $50K and lower in the 1970's that are now worth $300K and $400K. Move to smaller digs and bank the money. Lots of money in them thar homes.

Unfortunately I live in a smallish town in Ohio and won't benefit from this housing bump, but I plan on using my equity if interest rates stay low to both finance the new home and give me some additional bump in income. Have to maintain a mortgage, but if my planner is right we should be good to go.

[Myrddin]

One thing that is rarely mentioned in these stories is the transfer of wealth that will happen when the parents of these baby boomers die and leave their estates to the baby boomers.

I think that is highly overestimated. My wife's parents passed and left the house to the youngest son. The insurance benefits were $21,000 divided equally among 3 children. Big deal. My dad has passed in 2003. Mom purchased a smaller house valued around $500,000. That is her sole asset of any worth. Splitting that with my sister and accounting for my high tax bracket, it will mean the equivalent of a single year's salary after taxes. Again, big whoop. I've saved far more in my retirement accounts.

[CDHart]

I am 62 and my husband is 60. Although his parents are dead and didn't leave an estate, my mother is still living and has a substantial estate. I don't see in the article where the inheritance factor has been considered.

Carolyn

[MayflowerMadam]

"One thing that is rarely mentioned in these stories is the transfer of wealth that will happen when the parents of these baby boomers die and leave their estates to the baby boomers."

It may not be a consideration, since these boomers are probably balanced by those whose parents don't have any "estates" to leave. My parents and many relatives were in the ministry, making meager livings, as were the farmers and blue collar workers in the congregations. You, your parents and inlaws are lucky to be in a better position.