‘You don’t owe them’: Kochie urges Boomers to ‘rethink’ inheritance
Financial expert David Koch has given some truly brutal advice for Boomers about their $4.9 trillion in savings.
Financial expert David Koch has urged fellow Baby Boomers to “rethink” transferring their wealth to their kids, fearing that his generation is putting their “retirement lifestyles at risk”.
In an opinion piece for Yahoo Finance, Koch expressed his concern that Boomers were giving away too much money to their kids without considering their own needs.
“Nobody wants to see their children struggle,” he said. “But I’m a little concerned that guilt-ridden Baby Boomer parents could end up putting their retirement lifestyles at risk, by digging a little too deep.”
The former Sunrise host outlined how compulsory superannuation, now set at 12 per cent, would mean the children of Boomers could be retiring with “triple the amount you have”.
“So don’t compromise your retirement and your life just because your kids are putting pressure on you to help them build their own!” he said.
“You have got to let them work it out.
“You owe your kids a good education, a stable family life and a good upbringing.
“You shouldn’t feel obliged to pass on money before you die – especially if it affects your retirement life.”
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Financial comparison website Finder released a First Home Buyer Report in 2025 that revealed 17 per cent of first-home buyers relied on financial help from mum and dad to save up for their deposit.
It also found that first-home buyers who received financial support from their parents had 41 per cent more money left over in savings after making the purchase, compared to those who didn’t receive help from the so-called bank of mum and dad.
Among buyers without family support, 40 per cent took five years or more to save a deposit, compared to just 29 per cent of those who received assistance.
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Koch said that according to CoreData, around $4.9 trillion is set to be passed on from Baby Boomers to their children, grandchildren and charitable benefactors over the next decade.
“It’s extremely generous, but personally I don’t think you owe your kids any sort of inheritance,” he wrote.
“While you understandably want to give your kids a big leg up, just remember, your life matters too.
“Take happiness in buckets – until you kick the bucket!”
New data released by Colonial First State shows Australians aged between 18 and 29 expect to inherit $525,000 on average, when the family home and leftover super is factored in.
These high expectations come as younger Australians look to the older generations to help secure their financial future.
But a combination of rising aged care costs, changing government regulations in the space and the sheer longevity of older people means this optimism around how much they will inherit is “misplaced.”
CFS head of technical services Craig Day warned these high inheritance expectations will come “under pressure”.
“When you think about what older Australians are staring down the barrel of including longevity and rising aged care cost, this ($525,000) expectation is going to come under a lot of pressure,” he told NewsWire.
“A lot of the assets that are earmarked to be paid out as an inheritance may in the future be needed elsewhere.”
CFS says most older Australians intend to leave something behind, but many underestimate just how much they will have left.
The family home, vehicles and any remaining superannuation top the list to be passed down to the kids, but investment portfolios and other property have largely been earmarked for retirement income.
Originally published as ‘You don’t owe them’: Kochie urges Boomers to ‘rethink’ inheritance
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