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"To heck with leaving my kids an inheritance. I never hear from them, except when they need money. I'm going to enjoy my money now and if there's anything left over after my wife (husband) and I kick the bucket, well that their good fortune, but I'm certainly not going to sacrifice our lifestyle for them."
I don't think there's something wrong with spending your money the way you want to. Children have an equal opportunity to make their money for living. Parents should be responsible for children until kids get out of school and start working. Inheritance? If it is there, fine. If not, then it must be OK, too.
I agree, I WANT my parents to enjoy their golden years, it wouldn't bother me if I didn't get an inheritance, I don't feel entitled to one. Enjoy yourself, your kids should feel as if they deserve an inheritance. Have fun!
I agree, I WANT my parents to enjoy their golden years, it wouldn't bother me if I didn't get an inheritance, I don't feel entitled to one. Enjoy yourself, your kids should feel as if they deserve an inheritance. Have fun!
I agree. Kids that have a sense of entitlement to their parents wealth need a wake up call to go to work to make their own fortune!
One of my sisters felt not only was she entitled but her kids were too. My parents told her that whatever is left over is for their kids and she could take care of hers. She has plenty of money, by the way. But my folks didn't have a lot and what they did have was used to pay form my mom's assisted home care.
I don't feel parents have to leave their kids anything unless they choose to.
My observations have been that (as a rule) the more successful, and therefore richer, the children are the less expectation they have of receiving something from their parents. Many parents, on the other hand, feel a sense of obligation to deprive themselves in order to leave some sort of security behind for their children. It's too bad because when the children have blown through that they often have no incentive, worse, no ability to fend for themselves after their parents have permanently "retired" to the happy gardening grounds in the sky. Often children lay a guilt trip on their parents and the parents, sadly, allow themselves to be emotionally blackmailed this way, like it's their fault their kids turned out badly. My wife has two sisters. One turned out responsible. The other blew through her late father's estate (which was considerable) and her mother did nothing to stop it, paying her bills for a lavish lifestyle in London when she was at university there (for eight years). Now she has no job (recently laid off from a 4-year PT stint), is skilled somewhat with IT, but has no real hope of ever landing anything again due to her just turning middle age, and is content to live off her other two sisters (who reluctantly allow it). It's sad when parents spoil their children to the point of absolute dependence. When things turn really ugly in the economy in the next few years , many of these children will wail that their parents decided to spend what they had on themselves.
I have never understood this. In my family, there has been no inheritance from one generation to the next. Never. And while none of us are ever going give Bill Gates or Warren Buffett a run for their money, we aren't destitute either. I never expected to inherit anything from my parents. That was their money, and they worked hard all of their lives for what they had. They took care of me and my siblings until we became adults, and after that we were on our own. And that's how it should be.
Oh sure, I guess it would have been nice to have some ancestor like Joe Kennedy who made a bundle on liquor, B-grade Hollywood movies, oil and gas, insider trading and real estate who passed that along to the next generation. But my ancesters were either not that smart or not that ruthless. And that's fine with me.
im spending 90% of all my money on sporting events , beer and wild women. the rest ill probley just spend foolishly......
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