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Boomers' $72 Trillion Wealth Transfer

This is a news story, published by Yahoo Finance, that relates primarily to CNBC news.

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Moneywise

Moneywise

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Business

Business & Economics

My mom died and left me 10 times as much as I expected, and I'm a little lost on how best to manage it

Moneywise

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73% Informative

In the next 20 years , Americans will inherit an estimated $72 trillion as boomers pass down their accumulated wealth to younger generations in a phenomenon dubbed the Great Wealth Transfer .

Investing your inheritance now could give you greater retirement security, and help you build a legacy for future generations.

A 2024 CNBC survey found that 40% of Americans are behind on retirement planning and savings.

There’s nothing wrong with using proceeds from an inheritance to improve your life and that of your family — right now.

You could put some of your inheritance into a 529 plan toward your children's college education, allowing it to grow tax-free.

Consult a financial advisor can guide you through some of the best ways to invest your inheritance to meet your goals.

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informal

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long-living

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