There were a few grim statistics in Bank of America's annual survey of rich people.
Over half of respondents doubted their children would be as wealthy as they are. By comparison, 96% of Boomers were wealthier than their parents.
And more bad news for babys of Baby Boomers. Only 49% of rich people said that leaving a plump inheritance is a "personally important use of their wealth."
Financial security (90%), financial freedom (78%), travel (64%) and quality of relationships with family and friends (53%) rated as more important uses of wealth.
Perhaps the Boomers feel this way because most of them got rich through hard work, not inheritance:
Don't miss: The 13 Richest Americans Of All Time >
For the latest finance news, visit Clusterstock. Follow us on Twitter and Facebook.
Join the conversation about this story »
No comments:
Post a Comment
Note: only a member of this blog may post a comment.