64% of Boomers Will Use Money to Travel and have Fun

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"Paws off, Junior, this cash is mine."

Don't expect a big inheritance from your boomer parents -- even if they are rich. Less than half of millionaire boomers say that leaving money for their kids is a priority for them, according to a 2011 U.S. Trust Study.  But 64% of boomers say they plan to use their money to travel and more than one in three say they want to use it to "have fun."

By contrast, "boomers are more concerned with leaving behind things like values and keepsakes," says Katie Libbe, the vice president of consumer insights for Allianz Life, the company that conducted the survey.

Smart Money November 2011 Excerpt

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