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The state of the estate




Baby boomers expecting an large inheritance for retirement might be getting a surprise instead
Baby boomers expecting an large inheritance for retirement might be getting a surprise instead
Oli Scarff/Getty Images

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If you’ve put off saving for your retirement years because you’re expecting a windfall inheritance, you may be in for a shock. Baby boomers who’ve counted on mom and dad’s money may now be facing the fact that their inheritances are dwindling – or disappearing.

Thanks to a diving economy and parents living much longer than expected -- these days, the 85-and-over age bracket is the fastest growing segment of the population -- anything left under the mattress is going to cover those extra golden years. Adult children may feel resentment as they find themselves stretching their savings to help their parents financially instead. Parents may struggle with disappointment and guilt at not being able to leave their kids the bequest they had promised.

How is that affecting the family dynamic? If you’re a parent, son or daughter faced with a changing financial picture, how do you approach this subject with sensitivity?

GUESTS

Liz Pulliam Weston, personal finance columnist, MSN.com and author of "Easy Money," "Your Credit Score" and "Deal with Your Debt"

Delia Fernandez, president, Fernandez Financial Advisory, LLC and certified financial planner