4 Things About That Inheritance
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4 Things About That Inheritance
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Narrated by:
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Hey everyone, I'm Lena Banks – a Certified Financial Planning professional and small business coach based in Austin, TX. Welcome to your Financial Therapy for the week!
Optimism bias is a psychological phenomenon where people in part believe they are more likely to experience positive outcomes in the future. In personal finance, this can mean overestimating future income, underestimating future expenses, and spending unnecessarily today, without a clear plan for tomorrow.
If you're one of the millions of Americans expecting to receive some of the more than $100 trillion on the line in the "Great Wealth Transfer", optimism bias may be affecting you. If so, the historic, multi-decade transition of assets from Baby Boomers and the Silent Generation to younger generations--primarily Millennials and Gen X--requires some perspective. So today we're highlighting four things about inheritances that you should keep in mind.
Call or text to submit your feedback and questions for the show: 1-844-4FINPOD (1-844-434-6763)
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