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Planting your inheritance within your portfolio

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Conville, Bobby 2014.jpg

Money can, after all, grow on trees ­— family trees. And judging by the $8.4 trillion baby boomers are expected to inherit from older generations in coming years, we’re not talking chump change. In fact, roughly two-thirds of boomer households will receive an inheritance, and the average value of those inheritances is just under $300,000.

Jim McKown, first vice president with Wells Fargo Advisors’ High Net Worth Planning team, notes that a $300,000 inheritance has the potential to grow over 30 years into nearly $3 million, assuming a 7 percent annual return.

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