I Tommy Tucker Shelden Williams bringing -- back with Pink Floyd and money in as we're talking about now inheritance isn't. Not only should you count on an inheritance -- yeah. Parents or whomever pants on but will there be anything for them to leave -- Cathy Weatherford joins us right now. President and CEO of the insured retirement institute morning -- I'm well thank you and I appreciate you taking a time when there's also a bit about the insured retirement institute before we know. But word association here in Washington DC. We do a lot of re searched around. Attitudes. And competent in retirement planning. And so we've been adding that baby boomer generation for five years there we steady -- -- -- daddy I'm millennial and we daddy. Women and other demographic. We also do a lot of education. Consumer education and industry education around that need to have a holistic retirement. And that we do a lot of advocate she. In Washington Wednesday to try to. -- -- And laws rules and regulations. That gives people the ability to say attacks are all. And get a tax advantage. Four until -- -- man be allowed one dumb dumb question before -- in real. Sure who names these different groups gen X mobile ideals people. -- are -- committee. I don't know. I don't bit I don't know they get it strikes named. -- just some of them are captains some of them probably are now. I'm just curious because we always use of men and some money yet to come up with a somewhere that is -- -- the manner the woman every times but he says annex they say. That might or by calling that. Tell me -- to me about retirement and and you know I'm reading this article here in the year quoted in -- -- It seems like Picard is before the horse because they're talking about parents worried about their kids. Being able to handle money that that -- them in my concern is having getting money to leave. Well and you know -- I think it -- are fortunate this year. We have the last couple years we had you know 67%. Of that gamers -- something that really equally. Leaving her in there was an important goal. As part of their retirement plan this year. Our last. At 6% and decided that it was important so. I think I'd drop outwardly and in I even knew it. People who are leaning toward. Retirement are looking GAAP net stay in. Is their general and you know and -- Writer and will there be any thing. -- -- up attitude. Around. You do your actions and you know have our changing. I think all. The were standing here members already have probably been helping. Their children and grandchildren. -- five or six years of the recession right then you either. Providing financial support of payments or do you helping them live with a name like -- -- Adult children living. Play helping -- And make it feel like -- already done their fair share. And -- that you know that they're looking to -- themselves and Ackerman and leaving impact of larger here -- a huge goal. And Weatherford when we come back continue our conversation president CEO of the injured retirement institute sorry yet and -- That job but it's interesting and wondered if baby boomers are really changing their minds. And there opinions about leaving something behind or the financial realities are kind of back in -- -- that. That feeling of well maybe it's not so important after row we come back -- at the about it. Average inheritance. If it varies by country by AM city to city your state to state. I don't hear from you all at 260187. Neitzel 386 exit 89087. He has. Is your plan leaves company kids very suspended all he had anything Oly schedule right now to finally get traffic sixth when he won. Problems. I Tommy Tucker six when he five talking about inheritance is in baby boomers and millennial engine axes and Cathy Weatherford president CEO of the insured retirement institute do you know at the next group is and I mean as seriously coming up with what they were. Well right now and I'm sure somebody could create artwork well but with the board -- with the bank for them to be an opportunity for a. Tell me -- welcome. Parents and and inheritance is and it is it changing because people are banking and that decision well it's not important because I don't have it. Well we certainly that. All of the statistics. That everyone gathered -- To restart like ours awards through. You know I think. Government labor statistics and making false statistics that Becky. American there. Woefully under. Full retirement. -- I think that and the recession really wasn't that -- war. A lot of people in preparing for retirement -- interest rates again. Even that may have been waiting. You know they're not getting a bid to return on writing and being rewarded. We knew we could return so yes I think -- probably are back into it. You know that the attitude that -- bad -- either and may not be able to leave and here at war. But that's just horrible for him anymore that the goal is intact injured well. You know I think it it their all -- the new. Equation for war. All of us what I believe it and that you know what you know what age and I actually retire we kept at all. You know long term numbers have that is that around. America that you -- -- our ultimate 65 is the real retire. And I don't think that's true anymore either making me. They're at work you and seventies here today so it can retire it let them. Questioned -- -- there and then -- -- At the good news is that the longer. And any other generation that they want to take and year end. And so they're going to be you know people on retirement. For them. But the bad news I'm guessing -- like junior inheritance. To them with every every day that there are a lot and I don't mean that. Nasty blades I mean a financial reality is enough. It is the reality that we you know we actually need greater resource than retirement because health care -- Increased. As we age. And you know living -- You know it modification of our -- -- Other things that we need to. You know which have long term care. Four for many people are saying and they're staged and yet I think that. That. You know that that that's probably part of the problem back. Have all Tripoli obviously candidate -- of course you know every time. Has that -- If it out of you you know that will probably eat what is laugh -- -- and Eric said because that. You know end. That will you know that's generally people live there into the area and -- so that could be likely that the legacy is. Is home where -- cared slipped and you know about that that -- -- that could be. You know the patriots are she's. Children and grandchildren and even at the -- -- under short. -- a day and you know as yet a couple more minutes of like to talk about this only come back to him the Specter of reverse mortgages which is basically. The bank's loan and your parents money to pay for their retirement. And actually give parents are slowly selling the house to them while you come over for Sunday dinner accurate. Yet that I think it it's that -- -- laugh line yeah. If you have no more money and that could be activated her but it is sheer lack. And answer that he's happy picture. Yet a couple of minutes hang on. Ice over Americans don't have enough money for retirement let alone leave an inherently an inheritance but yet. The debt -- as it relates to this state sometimes becomes a campaign issue and a talking point for people. That are very conservative getting myself as fiscally conservative but I believe that kicks in at five. Five point three million dollars somewhere along those lines and it just amuses me now. Everybody gets themselves all riled up about the death tax and and it's not about Republicans and Democrats win. Maybe we should now be worried about -- dog food in my unique -- time for the LO the ol' Roy. 630 and your calls when we come back at T six culminates at any toll free 866. In 89087. Am -- some -- text on what the next generation should be held one of them says. The grand baby boomers and ambulances gaming generation. Now time for -- W offers news that we repeatedly. I'd David Blake and just making it look like at northwestern teachers that anywhere around here people know about the northwestern demon is that the demon demon deacons even now now. -- -- The demons again double demons double team on anyway. From a summons and I am but I do have a T shirts and on this thing into -- seventy enough than in the bottom of the sixth inning college game for lightning running. I think that -- -- seven enough so again I think there's probably a couple of northwestern players with some sheet metal flashlight. Any thing to stop this game at any point -- -- what is -- the -- -- northwestern. Yeah again acted -- maggert come back. Atlas and one reason I wouldn't -- -- in the 1000 dollar cash contests nationwide which could help if you parents not to leave anything to. Cathy Weatherford president and CEO of the answer. Insured retirement institute talking about some. Some numbers indicate in a very short period of time a can't be -- baby boomers are concerned about leaving an inheritance. -- -- -- I think that you know we have a. Maybe at the and that. Eaten all of that won't get anything -- -- to -- children. And instant text that are coming in here that are kinda interesting if people teach their kids how to handle personal finance. There should be no need to leave an inheritance. And a talented kids who expect an inheritance on excel as much as their peers do who do not. Announces what's the point of leading some them for the children ounce on the material possessions you have when you check out of my -- go before your kids and and if -- defining material possessions there is you know your favorite Irving DH. I'll bring you money. So if somebody I know how you start this preservers mortgages -- house out from under him. Are there any statistics as a -- the average inheritance is. Well. I mean a couple of statistics and their real ballparks that. You know if your image in the top 1%. How wealthy Americans. Then your parents are here you'd probably get two dollars. But you know then the media and somewhere. You know -- rounds. -- 60000. They'll. You know about the ballpark and canceled -- Iran somewhere. It. You know it it's generally not a great deal of money. And I I love your listeners are saying that it inside you'd eat your kids are. -- good financial. -- And date you'd teach them. Cavendish and right. You know that you should delete and Ericsson and and I think -- apple I mean it. And attitude but warn that went in the year. Investors. Into America and you know he's giving away. 9% well because it doesn't. That giving. His children and grandchildren all that money. You know would be that it would happen should have been so I think -- our also in line. The thinking. Many other people. You know one of the quotes Warren Buffett's children after -- announced. They use in Italy 99% of as well though he stuck with me you know is when his son's head. Parade. That's wonderful. And and he had a year. On -- should have a and snow Greek columns sincere conversation with the kids about it. Like designer and I at a seventeen year old daughters that look. You know ideally on it and Notre Dame OK but must sell a house that's all that's all I got an and all I have is is going to be probably was when I go and media. Couple of bucks if we're all lucky you do have a candid conversation with your children about. What the so called the state is -- reminded of Fred Sanford someday he'll be yours eyes -- -- now like if you if you think we got billions in the bank you can be terribly. Upset at me after I'm dead. Well I think I think it is one of the -- Important conversation that you can count which your children and grandchildren is back. You know having -- -- It meaningful conversation about money like it's not a collector really thought about that is it something. To be talked about in the -- back every morning at the understanding. Around. Your goal. Let the money that you that stimulate our retirement. How it is that you're -- it because it how is that that's going to be expended over. Your lifetime retirement. And your expectations. If you get to a point. I'll clear you know one of your children are trusted relative becomes. You know has the power of attorney if you. If you have some type of term. You know -- -- that there are issues that you know from her. And itself to your not being up to make their decisions for yourself. And so. I think teaching your children about money and I -- currently and taking care of themselves financially. And then you know how it is that what you were doing and how what European car. And what your goals are really really are important. And in many conversations are difficult and but I think we all -- -- -- -- way especially in their lives changed. You know there's another issue going in America and that's a great divorce. In -- more people are divorcing after eight PT I than ever before and so. Yet her -- -- that I've heard rumors of an effect at the in my case I called the bald divorce there was -- Unit at about. -- -- You know that -- -- You know -- and tapped it in tow boat both parties are. In happened that it should make that network -- so there's lot of life and -- -- -- be discussed in the arm William. You know and they're. Having issues that need to get into that network and the. Well people until they kids like him alleviate thirty gram at 135000. Dollar funerals. Would like Ian thank you can't be I appreciate the time I really view Kandahar right here.