More boomers are proactively transferring their wealth to their adult kids.Jordan Siemens/Getty ImagesA 68-year-old government employee in Canada is already passing his wealth on to his adult children.He said he's set for retirement and wants to help out his kids in their financially demanding years.He's part of a trend of baby boomers who are proactively passing their wealth down to their kids.MJ, a 68-year-old government employee in Alberta, Canada, has already started passing on his wealth to his four adult kids, even though he's still six months away from retirement and plans to live to a "ripe old age."MJ, who asked to go by initials for privacy reasons, told Business Insider his mindset shifted a few years ago when he read the 2020 book "Die with Zero" by Bill Perkins."The book stresses kids typically will need help from late twenties to 40, when they're dealing with house down payments and mortgages and kids and all of those things that go along with life," he said.

BING NEWS:
  • A laid-off baby boomer got frustrated with the job hunt, so he started his own business. He explains why age is an asset for entrepreneurs.
    Four months later, he started his own business. RetentionCX is a consulting firm that specializes in customer experience and management and taps Loria's nearly two-decade background in the industry.
    08/26/2024 - 2:31 am | View Link
  • A baby boomer says he collects enough in retirement benefits to live a good life in Germany but doesn't think his money would go as far in the US
    Gary Hohenstein retired at the age of 59 and moved to Germany with his wife. He collects five retirement benefits and says his money goes further in Germany than in the US. He's from New York City ...
    08/21/2024 - 4:30 am | View Link
  • A boomer dad who's 6 months away from retirement has already started gifting his Gen X and millennial kids their inheritance
    MJ, a 68-year-old government employee in Alberta, Canada, has already started passing on his wealth to his four adult kids, even though he's still six months away from retirement and plans to live ...
    07/10/2024 - 12:56 pm | View Link
  • More

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News