baby boomers
Ameriprise survey: Boomers prioritize family over retirementPosted by RJ and Makay on May 18, 2012 |
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According to a survey from Ameriprise Financial, despite increased uncertainty about the economy and their own financial security, baby boomers continue to prioritize their family’s needs over their own. While some baby boomers struggle to cover their own cost of living, they still strive to cover medical bills, college loans and utilities for their parents and adult children.
Legal services website RocketLawyer.com released results of a survey last month that found half of Americans with children lack a legal will. The survey also found that 41% of baby boomers between the age of 55 and 64 don’t have one either. For those that pass away without a will, known as dying “intestate”, the state will determine their property distribution. 
The BMO Retirement Institute has released a report, Estate Planning in the 21st Century: New Considerations in a Changing Society, that suggests Americans should review their estate plans to take into account new considerations. “When we think of estate planning, it’s often focused around the more traditional aspects, such as leaving money for the children or to charities,” said BMO head Tina Di Vito.
