Do People Save or Spend Their Inheritances? Understanding What Happens to Inherited Wealth
Journal of Family and Economic Issues, 2013, vol. 34, issue 1, 64-76
Almost $4 trillion dollars of wealth is currently held by families with a life expectancy of less than 10 years. When that wealth is inherited, will it be retained or spent quickly? Results from the NLSY79, a longitudinal survey covering people in their 20s, 30s, and 40s suggest roughly half of all money inherited is saved and the other half spent or lost investing. These spending and saving decisions are made by a concentrated group with about one-fifth of all families getting an inheritance and about one-seventh expecting to receive an inheritance. Suggestions to increase savings from inheritances are discussed. Copyright Springer Science+Business Media, LLC 2013
Keywords: Bequest; Inheritance; Saving; Wealth (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7) Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:kap:jfamec:v:34:y:2013:i:1:p:64-76
Ordering information: This journal article can be ordered from
http://www.springer. ... es/journal/10834/PS2
Access Statistics for this article
Journal of Family and Economic Issues is currently edited by Joyce Serido
More articles in Journal of Family and Economic Issues from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().