In this edition of EmpowHER's "HER Daily Dose", Bailey Mosier reveals that people in Americans on average only save half of their inheritances and spend the rest.
Hi, I’m Bailey Mosier. This is your EmpowHER HER Daily Dose.
Researchers at Ohio State University found that adults who receive an inheritance save only about half of what they receive, while spending, donating or losing the rest.
The team looked at data from 7,500 people who participated in the National Longitudinal Survey of Youth in 1979 and 23 times since then. If their findings are accurate, elderly Americans are expected to transfer almost $4 trillion to their heirs over the next 10 years.
That’s good news for retailers, but bad news for those concerned about the low U.S. savings rate. Researchers hope that knowing – in advance – that most people spend half their inheritances will motivate Americans to restrain spending and use the money for your kids’ college or your own future retirement.
That wraps up your EmpowHER HER Daily Dose. Join me here at EmpowHER.com every weekday for your next dose of women’s health.