[quote=jpinpb]Some of the boomer parents have lost money in their investments. Seems many investment vehicles were heavily in real estate. I would not assume the boomers’ parents are liquid and free and clear.
An example. My g/f’s mom passed away. They had some medical bills they had to cover. The dad took care of things. The dad recently passed away leaving the old house in Chula Vista to the three children. One is taking a loan on the house and paying off the two other siblings. Hardly going to retire off this.
Many of the boomers have multiple children and they will have to divide any proceeds.[/quote]
jpinpb, this is also what I am seeing in Chula Vista. The “greatest generation” couple here in which one or both are now deceased had an average of four children with 3-4 still living today. The typical assets are the long-time family home (which has taken a nosedive in value of late), a Rohr/General Dynamics/NASSCO or military/civilian retirement and social security (all of which terminate at death). If there are retirement funds over and above this which did not get eaten up by medical expenses incurred by the couple before they were eligible for Medicare, there is $200K or less remaining which is split 3-6 ways.
