A survey released Tuesday shows that 49% of wealthy parents say it’s important to leave money to their children when they die. Instead, many people plan to use their savings for travel and to focus on personal relationships.
The study brings to end the old notion of parents carefully tending their financial estates to be passed down at the reading of their wills. It also uncovered a distinct generational mindset that reflects changing view about what retirement means and an evolving sense of what one generation owes the next.
The survey polled 467 people nationwide with $3 million or more in investable assets.
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