From Kiplinger · · 1m 40s
How Late-Life Inheritance Funds Second Retirement
50- and 60-somethings use inheritances for early retirement, second careers, or family trips.
In brief
50- and 60-somethings use inheritances for early retirement, second careers, or family trips. People in their 50s or 60s using inheritances for early retirement, second careers, or family experiences. Originally reported by Kiplinger.
The Great Wealth Transfer
The next generation receives inheritances much later in life as life expectancies lengthen.
Second Retirement Phase
People in their 50s or 60s use inheritances for unexpected financial freedom to rewrite their timeline.
Buying Time
Most 60-year-olds try to get rid of stuff, not buy more, so inheritance money buys time instead of possessions.
Joshua Mangoubi's View
Joshua Mangoubi, founder and chief investment officer at Considerate Capital Wealth Management, says most 60-year-olds use inheritance money to buy time.
Long-Term Care Costs
The median annual cost of assisted living is $74,400 and a private nursing home room is $130,000 as of 2025.
Family Support
People in their 50s or 60s often use inheritances to support children and grandchildren financially.
Brandon Cox's Insight
Brandon Cox, CFP and founder of Coastline Complete Wealth, says many inheritors skip a generation economically.
Early Retirement
Inheritances can trigger early retirement, allowing people to abandon their careers for financial independence.
Patrick Simasko's View
Patrick Simasko, elder law attorney and financial adviser, says kids often retire earlier than their parents.
Financial Security
Inherited assets can strengthen retirement security for those without traditional pensions.
Meaningful Work Shifts
Some people use inheritances to pivot to part-time work, new careers, or volunteering.
Family Experiences
Inheritances fund family trips and experiences that create lasting memories.
The big picture
People in their 50s or 60s using inheritances for early retirement, second careers, or family experiences.
