Boomers: Stress Test Your Finances Before Transferring Wealth to Adult Kids
A number of baby boomers are transferring wealth prematurely to assist their offspring in purchasing houses and establishing families. Financial advisors have advised baby boomers to prioritize securing their individual financial well-being. A financial advisor from Citi suggested that one effective method is to conduct stress tests on their investment portfolio. Baby boomers Are anticipated to transfer trillions of dollars worth of assets in the upcoming years, however, not all of them wish to postpone this process until after their demise. Therefore, how can you tell whether you are in a situation where you have the ability to begin transferring your wealth? Many older individuals formerly informed Business Insider that they have experienced this issue as well. giving money as gifts to their grown children Well before their anticipated time of death, as they feel the funds are more valuable currently while they are establishing families and purchasing ...