For most people, traveling is one of the greatest joy in life and baby boomers are not the exception. Should you take the next cruise or leave it all to the children?
While still, the vast majority of retirees with children cling to an intention to leave something behind, a recent study has found that a growing number of baby boomers are digging into their children’s inheritance to fund their travels.
According to the study, 18% of travelers over 50 said they had no problem digging into their children’s inheritance to pay for a trip.
More than 50% of those surveyed for the study said they deserved to enjoy the money their children would otherwise inherit and 85% said they weren’t concerned about using the money set aside for their children’s future.
Older travelers used to be quite conservative in their tastes, restricting themselves to cruises, package holidays and the odd chaperoned cultural tour but more baby boomers are spending the money they would have once left their children on once-in-a-lifetime adventures. In fact, if there is one thing that defines this older demographic, it is a new-found sense of freedom. And why not enjoy it while you’ve got the money, right?!
