Baby boomers don't plan to leave their children an inheritance (illegal aliens, politicians)
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Are baby boomers being selfish, they might have lived through a couple of rough patches but overall the economy they grew up in is better than then the one their kids live in today.
"My goal is when they carry me away in that box that my bank account is going to say zero," Willison said. "I'm going to spoil myself now."
Why do kids feel like they're owed the money their parents made? The parents raised them, in many cases footed the bill ( in part or whole ) for college for their kids...I say good fro the parents to do what they want with THEIR money.
As long as my parents don't leave me their credit card bills from all the junk they buy, I don't care if they leave me any money or not. I don't want to be responsible for someone else's debt though.
I think a lot of people are overlooking the fact that Social Security, Medicare, and Pensions will be depleted or non existent 30 years from now. Not to mention Inflation will wipe out what the remaining savings younger people have.
As long as my parents don't leave me their credit card bills from all the junk they buy, I don't care if they leave me any money or not. I don't want to be responsible for someone else's debt though.
No one is responsible for their dead parent's debts.
I will be able to leave my 3 children inheritance and happy to do so. Also all 3 of them have always had bonds from when they were little, from Grandparents too.
I will be able to, do not believe in lying, because my Mother after my Dad passed away, had the ability to know how to save, when to save, and where to put her money. She had to do a damn good job, because she left all 3 of us kids quite an inheritance. So due in part to her, we will be able to do the same. If you can't you can't i believe in doing only what one can.
I am grateful to my Mother, because after my Father passed away, he would never ever dream that his wife, would be so good at saving and investing, but boy she did. Thank you Mom, i would of loved you even if you left nothing, because you were always the best Mom.
Oh believe me my kids want for nothing. Whatever they want now, i tell them take it take it please. They have. But still will be able to leave them a nice chunk, to buy a home or to help them in the furture the way things are going they will need it. We also have 2 rental properties, so they will make out there also. And our main home. Whatever we can do to help them in their future. And my children have always been more then self sufficent. Working from the age of 16. Again because of my Mother we are able to do this, I doubt now the way things are going and where interest is, the same would apply today, things are tough.
No one is responsible for their dead parent's debts.
yes and no
You as their other children (your siblings and half siblings) are not liable for any of their bills, unless you co-signed something.
but
Once people die, everything they have house, cars, money in the bank, become their estate, someone is put over their estate. the person over the estate pays all of the bills of the people who died, from this.
They may sell the cars, and the house and pay the bills, After all this money is gone if there is still bills they merely notify them that there is no more money in the estate and they will not be paid.
I'm guessing plenty of baby boomers couldn't leave anything behind if they wanted to. Most of us X & Y'ers are gonna be hard pressed to throw away all our parent's worthless junk before the banks foreclose on their houses and credit card companies start harassing us about their unpaid bills.
This single mother will be leaving her house to her daughter.
My house is free and clear; paid for.
I don't have any credit card debt.
What she does with my 'junk' after I die will be up to her.
I sure as heck won't care!!!
Too bad you didn't have a better parent.
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