Does It Make Sense to Die with a Bunch of Money? by Scott Stolz, CFP, RICP (week 53)
Like many retirees, one of my goals is to leave some money for my kids and grandkids. This too requires planning. How much and in what form are two obvious questions that must be answered. However, I’m come around to thinking that the most important question is when should I give it to them? Historically, money has been passed on to the next generation at death. But if you think about it, that really doesn’t make much sense. Morgan Housel frames this question perfectly in his most recent podcast ( The Purpose of Independence, L… - The Psychology of Money with Morgan Housel - Apple Podcasts ). He points out that if you die at age 90 and then leave it to your kids when they are close to age 70 and they in turn do the same for their kids, each generation is essentially passing on their money when the next generation least needs it. Giving my kids money when they are in retirement will surely be appreciated, but it wo...