A Half A Million Dollar College Education?...

A child born in 2010 that begins kindergarten in the fall of 2015 would attend college between the years of 2028 and 2032. 

If that child attended an average private 4-year college and if the annual price increases for private colleges experienced over the last 30 years continued into the future, the aggregate 4-year cost of the child's college education (including tuition, fees, room & board) will total $506,423, or nearly $127,000 per year.

Source: College Board


   

Baby Boomers To Inherit More Than $11 Trillion

According to Metlife’s Study of Inheritance and Wealth Transfer to Baby Boomers, there may be a glimmer of hope for baby boomers, many financially burdened, who could possibly inherit more than $8 trillion, mostly from parents and grandparents. 

Roughly 67% of all boomers are set to receive some inheritance in their lifetime.

The study also reports boomers have or will receive a substantial sum from their parents while they are still alive, which increases the total transfer of wealth to $11.6 trillion. 

The median inheritance per person is $64,000, and $2.4 trillion has already been given. The wealthiest boomers expect to receive an average of $1.5 million, and the least wealthy will be left $27,000, a sum that represents a larger percentage of the latter group's overall wealth.

Here are some key findings from the study:

63% of inheritances and 74% of dollars are from parents to children, and the grandparents are the 2nd most common source. Most boomers will receive their inheritance in late middle age.

Although only 17% of boomers had received an inheritance by 2007, 67% will eventually receive one.

The adjusted-for-inflation median amount boomers received by 2007 is about the same as the amount received by the preceding 1927-1945 birth group at the same ages.

Baby Boomers By The Numbers...

Extrapolating A Private College Education for A Child Born in 2010...

A child born in 2010 that begins kindergarten in the fall of 2015 would attend college between the years of 2028 and 2032.

If that child attended an average private 4-year college and if the annual price increases for private colleges experienced over the last 30 years continued into the future, the total 4-year cost of the child's college education (including tuition, fees, room & board) will total $506,423 or nearly $127,000 per year.

Source: College Board    


 

Grandparents - Estimated Population Growth

Sources: 
Wall Street Journal & www.Grandparents.com

Grandparents - Spending On Grandchildren

Sources: 
Wall Street Journal & www.Grandparents.com

Grandparents - By The Numbers...

Sources:
Wall Street Journal & www.Grandparents.com