Have you ever inherited money?

We’re kicking off Inheritance Month, and what better way to start then with an audience question!

I’ve been so surprised by the number of readers who have reached out to me and Alicia to ask questions and share anecdotes about their own experiences with inheriting money or estate planning. We’ve heard so many different stories—how young families lives have been changed from inheriting seven figures to worries over how to protect an inheritance from an ex-spouse. After one such email, I messaged Alicia and declared: THE GREAT WEALTH TRANSFER IS REAL!

For those who may be unfamiliar, the Great Wealth Transfer is the shift of assets (money, homes, etc.) from the Silent Generation and Baby Boomers to their Gen X and millennial children (and Gen Z and Gen Alpha grandchildren). According to The Wall Street Journal, older Americans are sitting on $110 trillion in wealth. Other research suggests as much as $124 trillion could change hands over the next 20 years, and women stand to inherit much of it.

But often with splashy trends like this that garner a lot of media attention, I start to wonder if it’s real, especially if I haven’t experience it first hand. People don’t really like to talk about the money they receive from their parents—whether it’s while they’re alive through a gift, or after they die. And as Ken said to me once, “Losing your parents is the worst way to get rich.”

I have not personally inherited any money. None of my grandparents died with many assets and whatever was left was passed to their children. But my parents believe in sharing their wealth while they’re alive. They give me a little bit of cash each year (well below the gift-tax limit but still a nice amount). My mom likes to joke (?) that there might not be anything left over when they die, and honestly, that’s fine with me. Ken and I don’t assume we will inherit anything when doing our own retirement planning.

I’d love to hear other readers’ experience. Have you ever inherited money? Will you one day? Do you have family members who believe in giving cash gifts while they’re still alive? How does all of it impact your own financial planning?

And stay tuned all month as we roll out more Inheritance Month stories!

In the meantime, here are a few editions of Home Economics featuring families who inherited money: