American baby boomers are set to pass down $84 trillion in inheritances over the next 20 years, sparking “the great wealth transfer.” Many parents are providing financial aid to adult children, raising concerns about readiness for sudden wealth influx. Experts predict millennials will become the richest generation due to this transfer.
Financial guru Dave Ramsey supports a caller’s plan to gift his childhood home to his son, but advises setting terms. 65% of U.S. parents offer financial help to adult children aged 22-40, according to a USA Today study. Ramsey recommends planning for future property maintenance if inheriting a home.
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Read more at Yahoo Finance: Man wants to ‘gift’ his 18-year-old son his home but is worried it’s a bad move. Dave Ramsey responds
