“It is a timely reminder that our strategic approach to finances shouldn’t be defined by what’s considered normal or traditional, but by what matters most to you,” added Petrera. “Your unique circumstances, goals, and priorities should be the foundation for these significant financial decisions.”
Give before they’re gone
Edward Jones’ survey also asked about intentions for passing on an inheritance.
It found that 54% of respondents want to share their wealth before they die, citing ensuring distribution without conflict (34%) and giving a friend or family member immediate financial help (27%).
However, last year 65% wanted to pass on an inheritance before they’re gone. The significant drop is likely due to inflation concerns with 45% saying that sharing their wealth while they are living may risk their future finances.
Others are holding back from giving while they’re living because of tax implications (19%), because there is no immediate need (18%), or because they don’t think their recipients deserve it!
