In a that went viral, Adam Harding, a financial advisor in Tempe, Ariz., shared the advice he gave to his 73-year-old client, which garnered 10.7 million views and more than 3,000 reposts.
It’s a hot-button issue, since American baby boomers have a whopping $78.55 trillion of household wealth, according to . Even after factoring in things like legal costs and inheritance taxes, that’s a lot to work with when passing money on to heirs.
At the same time, many Gen Xers and millennials are facing financial challenges, thanks to inflation, the rising cost of living and a nationwide housing shortage. Commercial real estate has beaten the stock market for 25 years — but only the super rich could buy in. Here's how even ordinary investors can Car insurance premiums in America are through the roof — and only getting worse.
But 5 minutes could have you These 5 magic money moves will boost you up America's net worth ladder in 2024 — and you can complete each step within minutes. When it comes to estate planning, considering when to give your kids an inheritance is just as important as the dollar amount. Harding’s advice to his 73-year-old client was to think about life 20 years from now, when she’s 93 years old.
Her kids will be in their 60s and her grandson will be 33. By the time they inherit her money, “everyone is fairly settled into who they are and what they’ll become,” he says. “Now compare that with a gift today.
Your kids are at a place in their lives wher.