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Greatest Generation: Millions in the basement?

A financial advisor friend once told me he thinks the Greatest Generation — the 5 million of them still with us — might have more money stashed in places in their homes or in bank accounts than anyone can imagine.

Boomer children, he said, will discover the stashes upon a parent's death. This really happened recently to sportswriter Selena Roberts, who wrote for both The New York Times and Sports Illustrated, according to an article on Deadspin.

Her mother died. While going through her things, she found a portfolio of stocks, bonds and real estate worth an amount Roberts would only reveal as “seven figures.”

Roberts is now working on building a website and making short films about sports.

Roberts discovered other stuff about her mother who had worked as a teacher and health care policy analyst.

“I was surprised she had done as well as she did…It's a pretty cool thing that she was very generous with a lot of people that I didn't know throughout her life. That was one of the things that I found going through that book. She gave to a lot of causes anonymously. I'm really proud of the person she was. I wish I knew a little bit more about it when it was going on.”

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About this blog

Writer Catherine Johnston of Olympia, Wash., addresses issues facing aging baby boomers and seniors as well as issues of serious illness, death and dying, grief and loss.

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