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By 
December 13, 2018 at 01:58 PM
Most Americans who became the recipients of a sudden cash windfall say they’d share the proceeds with loved ones and charities, as well as pay down their debts.
So says a new report from BMO Wealth Management, “A Sudden Windfall: A Blessing, Not a Burden,” which also finds that 47% of respondents said their most important financial goal was achieving lifestyle goals in retirement. After that came increasing wealth (44%) and protecting current wealth (42%).
The report points out that with more than $12 trillion in financial and nonfinancial assets moving from the so-called greatest generation to boomers, lots of people will be in for such a windfall—and that over the next 30–40 years, assets worth another $30 trillion will pass from boomers to their heirs.
(Related: Daniel Kahneman: Your Intuition Is Wrong, Unless These 3 Conditions Are Met)
Among respondents asked what they’d do if they received a windfall, 53% said they’d share with family, friends and charity; next came paying off debts (51%) and investing in the stock market, a business or property (49%).
