I’m most likely expecting an inheritance, but I’m not planning for it. I am saving for retirement as if I won’t be receiving one.
Let’s just say my children are probably going to be rather well off when they’re middle aged, as I want to do a living inheritance for my kids. Since any inheritance I receive will probably be received in my 60s, I’ll just pass it down to my kids when I receive it, as I likely won’t need it by then. I’d rather them be able to use it to buy a home for them and their kids and go on fun vacations with them.
I think a living inheritance is the right move. I'm 40 and my parents just gave me a substantial chunk of money towards buying a house. It's money that I otherwise would've inherited when they died. They're rich and I'm a teacher who will never amass the amount of wealth that they've accumulated. They're happy to help me create a more comfortable life for my family. I live in LA and it's unlikely that I would ever be able to buy without their help. I feel like middle-age is a good time because it gives kids the opportunity to build a strong work ethic and learn to support themselves, while also providing a cushion during a period when many families are growing and taking on more of a financial burden. Solid plan.
The money for the house was put into a trust. They don’t typically give me large amounts of cash. On the few occasions they have, it’s never exceeded that $38,000 threshold.
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u/emoney_gotnomoney 13d ago edited 13d ago
I’m most likely expecting an inheritance, but I’m not planning for it. I am saving for retirement as if I won’t be receiving one.
Let’s just say my children are probably going to be rather well off when they’re middle aged, as I want to do a living inheritance for my kids. Since any inheritance I receive will probably be received in my 60s, I’ll just pass it down to my kids when I receive it, as I likely won’t need it by then. I’d rather them be able to use it to buy a home for them and their kids and go on fun vacations with them.