A midlife money checkup

A quarter of households have received at least one inheritance, according to AARP. The median amount: $49,000. As a boomer, you may see even more. The most affluent boomers (the top 40% by income) get two-thirds of all inheritance dollars, the AARP study found.

"If you are in line to receive a sizable inheritance, consider the impact on your financial plan," says Ross Levin, a financial adviser in Edina, Minn. First talk to your parents. If they say they hope to leave you money and you feel confident that they've accounted for long-term health-care costs, work this sum into your own plans.

"The amount may be enough to live on while transitioning to a more flexible career or you may be able to help your own kids with a down payment," says Levin. Or suggest that your parents look ahead to the next generation and help your children with college. If they pay tuition bills directly, that doesn't count against the annual gift-tax-exemption limits.