Is Gifting Right For You?
For many people, making large gifts to children and grandchildren may not be the wisest action to take. For example, if you are a married couple aged 70 with a nicely sized combined estate, gifting may ultimately do more harm than good. Remember that if you are now on a fixed income, inflation will significantly eat into your purchasing power over time. Also, certain costs have historically increased far faster than the overall rate of inflation. Long term care is one such cost. Medical expenses are another fast rising cost. So before you give everything away, think about how much money you will really need to live on during your golden years.
