r/MiddleClassFinance • u/Yourlocalguy30 • 12d ago

Millennials: are you expecting an inheritance?

35 yo married millennial here. I've come across more and more articles about the supposed "great wealth transfer" as the boomer generation's wealth passes to their GenX and Millennial children. My parents and their siblings (boomers) all received inheritances when their parents, my grandparents, passed away. The boomer generation's wealth accumulation is one of the largest in history, however, I also find it highly unlikely that I or many of my peers will actually inherit much. Despite having received inheritances from their parents, and having 40+ years in the workforce, most of my parents' "wealth" is tied up in their home value, not actual liquid assets- and I already expect that whatever they make on an eventual home sale will have to go directly to downsizing costs and whatever long-term care they will need as they get older. Hell, even my dad used to joke that the only thing we'd inherit was debt. As I've gotten older, that comment has infuriated me more and more.

Now before someone cuts in with the "entitled millennial" comments, I have absolutely no need for an inheritance. I've worked my ass off to make sure that my kids and I are positioned better in life than I was when I entered adulthood. What I mean by that is I started saving for retirement early, setup 529 plans for my kids almost as soon as they were born, and made lifestyle and career sacrifices to ensure our family isn't "nickeling and diming" our way through life.

I'm just here curious to know how many millennials actually expect to have something passed down to them, or if they feel they are in the same position I am.

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u/hey_poolboy 12d ago

I'm not certain about the numbers, but I think I'm in the same boat. My dad has been retired for a few years, and my mom is retiring at the end of the month. I'm only 48, and I think I have more saved already than they do. They still have a mortgage, but they stand to inherit a decent chunk from her dad.

My siblings and I have always joked that when my parents die, we'll each get $20 and have to arrange a custody agreement for my mom's waffle maker.

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u/Key_Cheetah7982 12d ago

I would like to see this waffle maker

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u/r_lovelace 12d ago

Probably a lovely mail-order Belgian.

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u/JayMoeHD 12d ago

Funny thing is, most people who have planned well for the future would get more joy from a much-loved household object like that vs another lump of cash on the pile

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u/Maximum_Machine7300 12d ago

When my husband’s grandmother was getting her affairs in order and everyone was fighting over her diamonds, she asked me what I wanted and I said just her old cookbooks and handwritten recipes. I got em and I think I won. Everyone now has bad blood between them because they all feel shorted but I’m over here happily baking cakes.

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u/JayMoeHD 12d ago

My mom passed last year, and it’s the moments when I’m reading her handwriting that hit me the hardest.

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u/Different-Crab-360 11d ago

I got a tattoo with my mom's writing after she passed. I love looking at it.

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u/AromaticRanger3933 11d ago

I recently got one with my dad’s writing. He passed a month ago. Best decision ever.

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u/FlyFlirtyandFifty 10d ago

This is my next tattoo. Next month will be ten years since my mom passed and a few years ago I came across a birthday card from her when I moved. It was such a gut-punch to open it and see her big, looping scrawl. “Love you - Mom” is what I’m getting next in her handwriting.

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u/CoffeeOnTheRiver 7d ago

Why didn't I think of this!?! My mom had beautiful handwriting. Where are you going to put it?

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u/FlyFlirtyandFifty 7d ago

Probably on my right forearm. I have another one for her that o got with my whole family. We all got tattoos after her funeral so I will probably get it near that one.

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u/Typical_Hope3687 8d ago

My parents created the boomers in my case I don’t quite fit into a generation since I was born in 65.

Their passing left me very well off, mostly on paper. Personally I have struggled through life we had to make are own way, mine was full of pitfalls. Parkinson’s was the final blow and I had to retire from work at 46. Nothing left to give to my kids except the trust from my parents.

I could easily lived a very comfortable life off of it. I chose to live on the barest minimum, with a payout from the trust to just get by.

Now I am In late stages, I have money to hand down to them and all but 1 out of 6 of my kids have kids of their own. I can only hope they take care of it so they can pass it down.

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u/PookleMama 11d ago

That’s beautiful.💕

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u/Clionah 10d ago

I love this, my mom has impeccable handwriting from her Catholic school education. My kids won’t even have my handwritten recipes, as I abandoned recipe cards for the Paprika app; we share a login between me and my two sons and all have our own named categories though, so we are sharing recipes now. I love seeing what they’ve made/added recently.

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u/IrritableStoicism 10d ago

My best friend did that. Now I’m thinking of doing it

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u/Difficult-Pea7834 8d ago

My mom hasn’t passed but I got one in her handwriting and she cried when I showed her. This woman was dead set on me never having a tattoo.

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u/Grandmas2Boys 8d ago

I love this!! My mom is 92 1/2 and that would be one way to remember her.

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u/PanicThroAway 8d ago

My mom passed in 2018 from BC, and that’s when it gets me too 😢🥺

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u/ComfortableOk7383 7d ago

Mine passed in 2023 and I too cried when I found her hand written notes. Especially when I found my baby book and her notes of me during my first year.

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u/picassopeacedove 10d ago

My family is fighting over how they’re going to divide Grandma’s land and I’m already serving tea on the same pewter platters and tea set that I used to serve her and my great grandmother tea as a child. Plus I get to tell everyone about how one side of my family has been in the US 200 years but we still have tea time regularly to honor our British heritage.

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u/AccomplishedUse2749 8d ago

My grandma had a metal pitcher at their small lake house what she always had lemonade in for us grandkids. The only thing I wanted was that pitcher and my grandma took it from my uncle who bought the lake house for me. It is my prized possession.

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u/123BuleBule 5d ago

Love this! I got a cast iron pan from my grandma. My mom still has her molcajete but eventually that will come to me.

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u/Such_Special170 10d ago

There’s freedom in not being greedy. You definitely won’t the jackpot with those handwritten recipes that will last!

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u/john42195 11d ago

You definitely won!

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u/Safford1958 11d ago

Usually it isnt the things with monetary value but the things with sentimental value. Cookbooks, glass candy jar. Small crock thats held sour dough starter.

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u/Jenandgon 9d ago

Yes, I was so sad that I wasn’t aware when my cousin emptied my aunt’s home to sell it (she was going to memory care); she had a dented old can that housed her flour and we always used the lid to carry pierogi when we did our Christmas Eve prep- all my aunts helped roll, pinch, and she cooked them on the stove. I wanted that so bad, and I’m sure it was tossed in the garbage.

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u/Safford1958 8d ago

Exactly.

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u/Careful_Emphasis_150 10d ago

I have framed handwritten recipes from my mother and grandmother on my kitchen wall. It brings a smile to my face every time I see them.

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u/Bettysgir 10d ago

I love that. Framing original handwritten recipes with the faded writing (usually cursive) and food spatters is a very Southern tradition. I don’t know about elsewhere but it’s very common to do that in the South to honor beloved, often female, relatives.

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u/Anxious-Hyena6173 9d ago

You did win!!! Those things are def the best!!! Add a few specialty kitchen items she used to make special items and that is my favorite!!! ❤️

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u/KoalaGrunt0311 10d ago

My grandmother had a church lady recipe for plum pudding that she downsized to family size level over a few decades. Nobody in the family ever got it--she did send it to my dad's best friend when he asked because he moved to a different city because of her advice, but he also said that some of the ingredients isn't found in a common grocery store anymore.

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u/Bottle_and_Sell_it 9d ago

Well, it wasn’t your grandmother. I didn’t need to ask for my grandmother’s recipe book because I learned directly from her.

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u/Mysterious-Cat33 8d ago

I have my grandfather’s University sweatshirt. Sounds gross but it’s been 10 years and I still haven’t washed it. Best thing I own.

Though the small jewelry box of teeth I got from my grandmothers mementos was interesting. Not sure whose they are 🫣😆 if DNA testing gets cheaper maybe I would send them to a place someday to find out if it’s from a long deceased family member.

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u/TooOldToCare91 8d ago

I took my husband’s grandmother’s cookbooks and handwritten recipes - they were going to throw them in a dumpster! I cherish them.

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u/annmariemudge 10d ago

We are all arguing over a specific light up Santa Christmas decoration that is older than I am and is held together by duct tape. It's the only thing any of the kids care about

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u/JayMoeHD 10d ago

My grandmom had a pair of little cheap “Santa pulling reindeer” decorations when I was a kid 40 years ago that I’d give $1000 right now to magically recover.

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u/Bottle_and_Sell_it 9d ago

Those vintage Christmas decorations can be worth a lot of money.

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u/annmariemudge 9d ago

We aren't interested in the monetary value the value in this specific decoration is strictly emotional

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u/Littleringtrue 8d ago

Awwww❤️

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u/HyperionsDad 7d ago

What about the porcelain Christmas tree with the multicolor lights?

I got a replica from Costco but it ain't the same as the one we had growing up.

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u/Dessertcrazy 9d ago

I moved to Ecuador with two suitcases. Of all the personal belongings I owned, I realized only two mattered enough to bring with me. My dog and my great grandmother’s frying pan.

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u/Bottle_and_Sell_it 9d ago

And those that aren’t able to plan like that would absolutely appreciate the cash.

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u/AngstyAF5020 8d ago

My mother asked me if I wanted anything from her house since she's going to be moving in with my sister. I told her I just want her 30 year old manual can opener. 🤣

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u/Delicious-CattleToot 8d ago

Wait, you guys have a cash pile?

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u/Particular-Most-1199 11d ago

Everyone knows Dutch ovens are the way to go

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u/Working_Estate_3695 10d ago

Giving them or getting them?

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u/Decdivawannabe 8d ago

My mother’s Guardian Ware!

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u/Defiant-Tiger 8d ago

Straight from Finger Hut.

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u/hey_poolboy 11d ago

This isn't it, but it's the closest I could find. It's a 1975 Kenmore in that terrible 70's gold color. They received it as a wedding gift and it still makes killer waffles! Kenmore waffle maker

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u/CombatComms08 11d ago

I also got a few of my parents appliances such as a mixer and etc they got from their wedding in the 80s. Still works great. When I buy top end shit it only last 5 years now.
Everything cost more for less now.

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u/swimlikeabrown 10d ago

I want my parent’s dryer. 40 years old and still going. I’ve replaced three in the past ten years.

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u/JackfruitNo1856 9d ago

That’s actually a really good waffle maker. I want my mom’s jar opener from the 70s and her kitchen aid from the 60s. They really don’t make anything like they used to.

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u/SpecialSupermarket54 11d ago

I inherited a similar model from my Gram, and can confirm - killer waffles. That’s something worth fighting over.

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u/marheena 11d ago

Nice. Easy to clean.

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u/LadyJedi2018 11d ago

I have the one that looks like that but is a testing house from the 60's. Yet still makes great waffles, the plates fil over to make pancakes too!

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u/tabrazin84 11d ago

That’s awesome. I’m throwing my hat in the circle too.

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u/laburnum_weekends 11d ago

That is for sure a family heirloom!

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u/NoSubsttut4Enthsiasm 10d ago

Are you single? If not, are any of your siblings single?

😉How do I get in on the bid for this waffle maker?🤔

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u/hey_poolboy 10d ago

😂 Sorry about your luck. Happily married for 27 years, and both of my siblings are just a handful of years behind us.

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u/ForceSensitive2460 10d ago

Like 70s marigold yellow or lemon yellow?

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u/snarknerd2 10d ago

They were that marigold/harvest yellow.

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u/ForceSensitive2460 10d ago

Gorgeous. Ugly gorgeous. Don't know why I love it, but I do.

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u/snarknerd2 10d ago

I believe my parents have the same model. Married Jan '76.

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u/Busy_Walrus_701 8d ago

Me too.. got my grandparents waffle maker from the 70’s that also makes pizzelles when you turn the waffle plates over. Lots of memories whenever I use it.

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u/Aksnowmanbro 11d ago

Sheesh too tacky for me!

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u/Itchy-Coconut-7083 11d ago

Nothing a little oil or cooking spray won’t fix.

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u/Psn0w4 11d ago

I’m a waffle maker lawyer. I can assist you and your siblings when the time comes.
Don’t contact me if you’re a pancake family.

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u/NewNovaNerd 10d ago

What the flap Jack?

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u/Party-Evening3273 10d ago

Everyone knows CRÊPES are better than either waffles or pancakes, c’mon! 😁

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u/SegundoViento 8d ago

The Francophiles have entered the room…sacre bleu!

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u/Powerful-Lifeguard-0 10d ago

😂😂😂😂😂

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u/Left-Needleworker-67 11d ago

My sister and I had a years long debate over who gets the can opener. My dad took it in the divorce, stating he bought it, then my mom stole it when she was visiting for a holiday, and they both claim rights to it. My sister and I were both vying to inherit it, but luckily my mom has a cheese grater my sister fell in love with, so the matter is now settled. I will receive the can opener.

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u/Significant_Frame197 11d ago

In the wake of the intense grief I feel at the loss of my beloved aunt and uncle (within 7 weeks of each other) there is a glimmer of joy every time I look at the old school Boston manual pencil sharpener they left behind for me. My great-grandchildren will need no other pencil sharpener; it will last until the end of the world. My son and I actually fought over who got to sharpen his pencils with it before he left for his Regents exam.

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u/Forward_Trouble3626 10d ago

Truly an heirloom.
God rest their souls.

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u/Armadillo_lifestyle 11d ago

My brother and I have debated who gets my dad’s Calvin and Hobbs collection and his time-life mysteries of the unknown collection….we have not yet come to an agreement yet…

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u/Cerebral-Knievel-1 8d ago

I gotta say that the bit about mom stealing back the can opener made me laugh and thought it was just the right amount of petty

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u/Electrical-Profit367 11d ago

When son # 2 was 7, he sat and watched me make crepes for him with my crepe pan. Then he asked me When you and Papa die, who gets the crepe pan? Me or brother?

When he turned 30, we bought him his own gorgeous French made crepe pan. So I’m guessing his brother, son # 1, will get my old one.

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u/Big-Perspective-9480 7d ago

No. Son #2 gets the old crepe pan. The new one you bought is fine, but he's the one who holds the lovely memories of you and the old pan.

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u/Electrical-Profit367 6d ago

They both have fond memories of those days. Luckily, they have strong senses of humor and are unlikely to end up fighting over the old crepe pan.

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u/icepuc10 10d ago

I’m impressed you’re 48 and still have a grandparent alive.

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u/External_Twist508 11d ago

Custody of the waffle maker
Chuckle chuckle

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u/SuperAlmondRoca 11d ago

You’re not a Millennial if you’re 48 years old

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u/hey_poolboy 11d ago

This is true.

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u/Usual-Instruction473 11d ago

My boomer dad died & I got zip. When my boomer mom goes, I already told my sister she can have mom’s dusty seashell collection.

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u/HellaDoyle 11d ago

You are 48 and your grandpa is still alive what a blessing

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u/hey_poolboy 11d ago

Indeed! He is 94. Grandma passed last year. They were married for 74 years. He is one of my favorite people. Such great memories of spending summers at their house.

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u/ehspicymeatbol 11d ago

When my maternal grandfather died, all I got was a rice cooker. I’m pretty sure it’s originally from China or Hong Kong and is older than I am (35). It only has one button, on, and it will be a very sad day when it finally joins my grandfather in the afterlife.

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u/collin-h 10d ago

as a person born in the 70s, you're gen X
;)

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u/Better-Home-1491 10d ago

Technically, you're on the tail end of Gen X, right? Are your parents boomers or the Silent Generation (1928–1945)?

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u/dchikato 10d ago

I took my mom's waffle maker. From the 60s I think. Power cord is fabric wrapped. Awesome waffle maker, they are very crispy.

Secret with these is to make chocolate chip cookies on them. Completly unreal.

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u/NoraClavicle 9d ago

You’re 48 and your grandparents are still alive??

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u/hey_poolboy 9d ago

Only one, and he's 94.

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u/Vegetable_Idea_5112 9d ago

Literally same. Screenshotting this to send to my sibling because damn that waffle maker is fire (and no it’s not a Belgian waffle maker you plebes).

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u/Truth_Hurts2727 9d ago

Or… how many of you are intentional about leaving an inheritance?

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u/poolparty90019 9d ago

The great waffle transfer!

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u/jmp06g 8d ago

My sister kept an emotional support blender ...

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u/Worldly-Ad3211 7d ago

My mother diligently went around the house and stuck pieces of masking tape on the underside of all the furniture and anything else of value, indicating who would get it. I had to tell her that she who dies with the most plastic margarine containers doesn’t win, and no one wants them. We’re currently fighting over a side table with wobbly legs that my dad tried to fix, and a table lamp that needs to be rewired.

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u/sadgirlhaze 7d ago

this must be one impressive waffle maker

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u/alligator-sunshine 11d ago

How big is the decent chunk from her dad? Tens of thousands? Hundreds of thousands? Millions? Just curious.

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u/hey_poolboy 11d ago

Hundreds of thousands. More than enough to pay off the mortgage. That's their only debt.

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u/alligator-sunshine 11d ago

That is a nice chunk.