New reseach shows that the median inheritance for baby-boomers was $47,909 -- well below the $1.5 million of estates that will be tax free in 2004.

dd90_pennies.pdf (application/pdf Object)

Among all boomers who received at least one inheritance by 2001, the median value was $47,909 (in 2002 dollars). However, inheritance size is positively correlated with net worth: families with a net worth of $140,283 or more received almost two-thirds of all inheritances. Other research suggests that these families may reduce their labor earnings if the inherited amounts are substantial.

As of 2001, only 14.9 percent of boomers expected to receive an inheritance in the future, suggesting that for most people inheritances will remain an elusive, or small, contributor to their retirement security.