A new acronym is born – “Skiers” – Boomers who will Spend the Kids\’ Inheritance. Is this likely to happen? A lot of financial experts think it will. A recent survey found that more than 60% of Boomers plan to give money to their children before they die – perhaps by funding extended family trips, subsidizing an advanced degree, helping offspring purchase a first home, or paying for their grandkids\’ education. Many Boomers want to see their children (or their children\’s children) enjoy their money while they are still around, thus having less to leave them after they\’re gone.

Then, of course, there is the practicality of Boomers making their money last as long as they do. With longer life spans, more responsibility for their own healthcare, inflation, fewer pensions, and many Boomers planning on living a dream retirement, there may not be much money left A study by American Express found that 52% of those surveyed worried about their money lasting until they died (and the people in this study had an average net worth of almost $2 million).

When choosing between leaving their children an inheritance, or funding their own retirement fully, the Boomers are saying they\’d rather (or will have to) spend their money on themselves. Fewer than half the respondents in a survey by the Federal Reserve believed it was “important to leave an estate to heirs.” Two economists, Jagadeesh Gokhale and Laurence Kotlikoff, used the term “declining bequest ethic” to describe this attitude.

So, will you be a “Skier” by choice or necessity, or will you leave your kids that inheritance?

Jan Cullinane Author, Entreprenuer, Retirement Expert

Jan Cullinane is the co-author of The New Retirement: The Ultimate Guide to the Rest of Your Life (Rodale, 2007). She gives seminars on the (primarily) non-financial aspects of retirement through her company, "Retirement Living from A to Z."