Are you expecting an inheritance? How much will it be? Enough to afford a nice vacation, buy a home, or retire? Will the inheritance be in the form of college for your children? These are examples of inheritances people talk about on message board.
On one message board a woman said she didn't worry about retirement because as an only child, she expected to receive a rather large inheritance which would allow her to retire. Also her children's college tuitions were already taken care of by her parents and in-laws. She said her and her DH were the only "poor" ones.
This lead me to think, do people really expect to receive inheritances? I don't and neither does DH. Our parents have substantial savings but with early retirement, longevity, and rising costs of medical care, I doubt they'll be able to leave us anything, nor should they.
But are people overestimating what their parents really have saved? Do they think their parents have a fabulous lifestyle when the lifestyle is being provided for through a company pension and Social Security, rather than assets generating income? Let's say someone has $8k month with $4k being from a pension, $2k from SS, and $2 from investments. That means they only might have $500k in savings to generate that income. And when they die if that $500k wasn't eaten up at the end of their lives that would be split amonst their heirs.
The SS definitely and usually the pension do not support their heirs till death. Thus the luxury retirement today's retirees have is often supported through a pension. But how many 20 and 30 and even 40 somethings can count on a pension? And how many who even have one will have as generous a pension as their parents?
I guess it's possible that people will be inheriting enough for retirement and college. If you think you are getting an inheritance please explain if it'll be enough to retire on or just a vacation.